United Community Bank Reduces Holdings in Medtronic PLC $MDT

United Community Bank trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 46.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,188 shares of the medical technology company’s stock after selling 12,349 shares during the quarter. United Community Bank’s holdings in Medtronic were worth $1,351,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC acquired a new stake in Medtronic in the 2nd quarter valued at about $27,000. Corundum Trust Company INC purchased a new stake in shares of Medtronic in the third quarter valued at approximately $27,000. Valley Wealth Managers Inc. purchased a new stake in shares of Medtronic in the third quarter valued at approximately $29,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Medtronic in the third quarter valued at approximately $33,000. Finally, Tripletail Wealth Management LLC purchased a new position in Medtronic during the third quarter worth approximately $34,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $102.96 on Monday. Medtronic PLC has a fifty-two week low of $79.55 and a fifty-two week high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. The company has a 50 day moving average price of $99.60 and a 200 day moving average price of $95.73. The stock has a market capitalization of $131.99 billion, a P/E ratio of 27.75, a PEG ratio of 2.71 and a beta of 0.71.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The company had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same period in the prior year, the firm earned $1.26 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, December 26th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $2.84 annualized dividend and a yield of 2.8%. Medtronic’s dividend payout ratio is presently 76.55%.

Wall Street Analysts Forecast Growth

MDT has been the subject of several analyst reports. Robert W. Baird set a $103.00 target price on Medtronic in a report on Tuesday, December 16th. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Barclays raised their price objective on shares of Medtronic from $111.00 to $116.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Jefferies Financial Group reiterated a “hold” rating and issued a $110.00 target price on shares of Medtronic in a report on Wednesday, November 19th. Finally, Citigroup increased their price target on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Fifteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.28.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).