Trust Co. of Vermont Invests $2.69 Million in Medtronic PLC $MDT

Trust Co. of Vermont acquired a new position in shares of Medtronic PLC (NYSE:MDT) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 34,434 shares of the medical technology company’s stock, valued at approximately $2,694,000.

A number of other large investors also recently made changes to their positions in MDT. Madison Asset Management LLC grew its position in shares of Medtronic by 15.0% during the 4th quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock worth $18,752,000 after purchasing an additional 25,527 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of Medtronic by 0.4% in the fourth quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock valued at $939,009,000 after buying an additional 40,196 shares in the last quarter. Gradient Investments LLC boosted its stake in shares of Medtronic by 3.9% in the second quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company’s stock valued at $38,842,000 after buying an additional 18,509 shares during the period. Czech National Bank boosted its stake in shares of Medtronic by 4.7% in the second quarter. Czech National Bank now owns 365,443 shares of the medical technology company’s stock valued at $28,589,000 after buying an additional 16,292 shares during the period. Finally, Cerity Partners LLC grew its position in Medtronic by 12.7% during the fourth quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock worth $75,988,000 after buying an additional 89,111 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the sale, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Medtronic Trading Down 1.8%

Shares of MDT stock opened at $92.45 on Friday. The firm has a market capitalization of $118.33 billion, a P/E ratio of 24.79, a P/E/G ratio of 2.52 and a beta of 0.55. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The stock’s fifty day simple moving average is $84.12 and its 200 day simple moving average is $86.01.

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

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic’s payout ratio is currently 77.21%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MDT. Royal Bank Of Canada reissued an “outperform” rating and set a $118.00 target price on shares of Medtronic in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft dropped their price target on Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $101.00 price objective on shares of Medtronic in a research report on Wednesday, June 17th. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, TD Cowen decreased their target price on shares of Medtronic from $119.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Eighteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.83.

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).