Fifth Third Bancorp Has $18.30 Million Stock Position in Medtronic PLC $MDT

Fifth Third Bancorp grew its holdings in shares of Medtronic PLC (NYSE:MDT) by 4.8% during the first quarter, Holdings Channel reports. The firm owned 211,159 shares of the medical technology company’s stock after purchasing an additional 9,578 shares during the period. Fifth Third Bancorp’s holdings in Medtronic were worth $18,297,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MDT. Brighton Jones LLC raised its holdings in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after buying an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Medtronic by 9.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after acquiring an additional 381 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Medtronic during the 2nd quarter worth about $299,000. Main Street Financial Solutions LLC increased its holdings in shares of Medtronic by 28.9% during the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock valued at $1,251,000 after acquiring an additional 3,218 shares during the last quarter. Finally, HUB Investment Partners LLC increased its holdings in shares of Medtronic by 21.3% during the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock valued at $1,676,000 after acquiring an additional 3,376 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.26% of the company’s stock.

Medtronic Price Performance

Shares of NYSE:MDT opened at $83.58 on Tuesday. The company has a market cap of $106.98 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 2.25 and a beta of 0.56. The business has a 50 day moving average price of $79.16 and a 200 day moving average price of $88.36. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same period in the previous year, the business posted $1.62 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Research analysts predict that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.4%. This is an increase from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, June 26th. Medtronic’s payout ratio is presently 77.21%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MDT shares. Weiss Ratings lowered Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Royal Bank Of Canada reiterated an “outperform” rating and set a $118.00 price target on shares of Medtronic in a report on Thursday, June 4th. Evercore set a $105.00 price target on shares of Medtronic in a research report on Monday, July 6th. BTIG Research restated a “buy” rating and issued a $91.00 price objective on shares of Medtronic in a research note on Monday. Finally, Wells Fargo & Company decreased their price objective on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus price target of $98.21.

Medtronic Company Profile

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).