Iowa State Bank Acquires 161 Shares of Medtronic PLC $MDT

Iowa State Bank raised its holdings in shares of Medtronic PLC (NYSE:MDT) by 0.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,182 shares of the medical technology company’s stock after purchasing an additional 161 shares during the period. Iowa State Bank’s holdings in Medtronic were worth $1,585,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Red Spruce Capital LLC increased its position in shares of Medtronic by 0.5% during the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock valued at $2,067,000 after acquiring an additional 118 shares in the last quarter. Certior Financial Group LLC increased its position in shares of Medtronic by 3.7% during the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock valued at $310,000 after acquiring an additional 122 shares in the last quarter. Dunhill Financial LLC increased its position in shares of Medtronic by 17.2% during the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company’s stock valued at $76,000 after acquiring an additional 124 shares in the last quarter. Cidel Asset Management Inc. increased its position in shares of Medtronic by 1.3% during the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock valued at $856,000 after acquiring an additional 126 shares in the last quarter. Finally, Petros Family Wealth LLC increased its position in shares of Medtronic by 4.3% during the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock valued at $280,000 after acquiring an additional 127 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 2.3%

Shares of Medtronic stock opened at $97.63 on Monday. The company’s fifty day simple moving average is $92.94 and its 200-day simple moving average is $88.46. The stock has a market capitalization of $125.23 billion, a PE ratio of 26.90, a P/E/G ratio of 2.57 and a beta of 0.78. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $97.94. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

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

Medtronic Dividend Announcement

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

Insider Buying and Selling at Medtronic

In other news, Director William R. Jellison bought 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 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 transaction of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of several analyst reports. Truist Financial raised their price target on shares of Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a research report on Thursday, August 21st. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 30th. BTIG Research reaffirmed a “neutral” rating on shares of Medtronic in a research report on Friday, July 11th. Wall Street Zen downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Wells Fargo & Company lifted their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.94.

Medtronic Profile

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.