US Bancorp DE Sells 97,898 Shares of Medtronic PLC $MDT

US Bancorp DE lessened its position in Medtronic PLC (NYSE:MDT) by 7.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,301,958 shares of the medical technology company’s stock after selling 97,898 shares during the quarter. US Bancorp DE owned 0.10% of Medtronic worth $113,492,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. 1248 Management LLC bought a new stake in shares of Medtronic in the 1st quarter worth about $26,000. Columbia River Financial Group LLC bought a new stake in Medtronic during the 1st quarter valued at about $28,000. Twin Tree Management LP bought a new stake in Medtronic during the 1st quarter valued at about $29,000. Activest Wealth Management lifted its holdings in Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares in the last quarter. Finally, Hughes Financial Services LLC bought a new stake in Medtronic during the 1st quarter valued at about $32,000. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MDT shares. Leerink Partnrs upgraded shares of Medtronic to a “strong-buy” rating in a report on Monday, June 16th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Evercore ISI lifted their price objective on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Argus lifted their price objective on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Finally, Robert W. Baird lifted their price objective on shares of Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.63.

Medtronic Stock Down 0.5%

Shares of Medtronic stock opened at $97.88 on Thursday. The firm’s 50 day moving average price is $93.31 and its 200-day moving average price is $88.65. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37. The company has a market cap of $125.55 billion, a P/E ratio of 26.96, a PEG ratio of 2.59 and a beta of 0.78.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s payout ratio is currently 78.24%.

Insider Buying and Selling at Medtronic

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were 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 directly owned 35,615 shares in the company, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

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.