Trust Co. of Toledo NA OH Has $1.40 Million Holdings in Medtronic PLC $MDT

Trust Co. of Toledo NA OH lessened its position in shares of Medtronic PLC (NYSE:MDT) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,069 shares of the medical technology company’s stock after selling 283 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Medtronic were worth $1,401,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. 1248 Management LLC bought a new position in shares of Medtronic during the 1st quarter worth approximately $26,000. Columbia River Financial Group LLC bought a new position in shares of Medtronic during the 1st quarter worth approximately $28,000. Twin Tree Management LP bought a new position in shares of Medtronic during the 1st quarter worth approximately $29,000. Activest Wealth Management lifted its position in shares of Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after buying an additional 322 shares during the period. Finally, Hughes Financial Services LLC bought a new position in shares of Medtronic during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Down 1.0%

MDT stock opened at $95.52 on Friday. The company has a market cap of $122.52 billion, a P/E ratio of 26.31, a PEG ratio of 2.54 and a beta of 0.78. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $99.37. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The business has a fifty day moving average of $93.56 and a 200-day moving average of $88.74.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. The company had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. Medtronic’s payout ratio is presently 78.24%.

Insiders Place Their Bets

In other news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MDT shares. Sanford C. Bernstein raised their target price on Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Truist Financial lifted their price objective on Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a research report on Thursday, August 21st. Wells Fargo & Company lifted their price objective on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. William Blair upgraded Medtronic to a “hold” rating in a research report on Friday, July 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.41.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.