Webster Bank N. A. Sells 5,225 Shares of Medtronic PLC $MDT

Webster Bank N. A. trimmed its stake in Medtronic PLC (NYSE:MDT) by 24.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 16,381 shares of the medical technology company’s stock after selling 5,225 shares during the period. Webster Bank N. A.’s holdings in Medtronic were worth $1,428,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Burkett Financial Services LLC lifted its stake in shares of Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 185 shares during the last quarter. 1248 Management LLC bought a new stake in shares of Medtronic in the 1st quarter valued at approximately $26,000. Wood Tarver Financial Group LLC bought a new stake in shares of Medtronic in the 4th quarter valued at approximately $27,000. Columbia River Financial Group LLC bought a new stake in shares of Medtronic in the 1st quarter valued at approximately $28,000. Finally, Twin Tree Management LP bought a new stake in shares of Medtronic in the 1st quarter valued at approximately $29,000. 82.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Leerink Partnrs upgraded Medtronic to a “strong-buy” rating in a report on Monday, June 16th. Morgan Stanley reiterated an “overweight” rating and issued a $107.00 price target (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. BTIG Research reiterated a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Robert W. Baird increased their price target on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Finally, Wells Fargo & Company increased their price target on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.14.

Medtronic Trading Down 0.2%

MDT opened at $94.05 on Monday. The stock’s fifty day moving average is $91.50 and its two-hundred day moving average is $88.25. The company has a market capitalization of $120.64 billion, a P/E ratio of 25.91, a PEG ratio of 2.48 and a beta of 0.77. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $96.25. 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 (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. The company had revenue of $8.58 billion for 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%.Medtronic’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a $0.71 dividend. 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 dividend payout ratio (DPR) is currently 78.24%.

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.