First Nebraska Trust Co Makes New $6.42 Million Investment in Medtronic PLC $MDT

First Nebraska Trust Co purchased a new position in Medtronic PLC (NYSE:MDT) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 74,422 shares of the medical technology company’s stock, valued at approximately $6,422,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its position in Medtronic by 0.7% during the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock worth $8,919,846,000 after purchasing an additional 838,220 shares in the last quarter. State Street Corp lifted its holdings in Medtronic by 2.7% in the 2nd quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock valued at $5,005,320,000 after purchasing an additional 1,658,301 shares in the last quarter. Bank of America Corp DE lifted its holdings in Medtronic by 5.4% in the 1st quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock valued at $2,254,200,000 after purchasing an additional 1,343,220 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in Medtronic by 37.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company’s stock valued at $1,078,321,000 after purchasing an additional 3,739,288 shares in the last quarter. Finally, WCM Investment Management LLC acquired a new stake in shares of Medtronic during the 1st quarter worth about $965,922,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MDT. Bank of America lifted their price target on shares of Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Barclays raised shares of Medtronic to a “hold” rating in a research note on Wednesday, October 7th. Robert W. Baird raised their target price on shares of Medtronic from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. TD Cowen reaffirmed a “buy” rating and issued a $110.00 target price on shares of Medtronic in a research note on Wednesday, September 30th. Finally, UBS Group reaffirmed a “cautious” rating on shares of Medtronic in a research note on Wednesday, October 14th. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $102.88.

Medtronic Stock Performance

NYSE MDT opened at $98.95 on Wednesday. The business’s 50-day moving average price is $91.94 and its 200 day moving average price is $88.36. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The company has a market capitalization of $126.58 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 2.32 and a beta of 0.56.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The company had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.55 billion. During the same quarter in the previous year, the business earned $1.26 EPS. The firm’s revenue was up 13.7% on a year-over-year basis. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. On average, research analysts predict that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were given a $0.72 dividend. The ex-dividend date of this dividend was Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 2.9%. Medtronic’s dividend payout ratio (DPR) is currently 70.94%.

Insider Buying and Selling

In related news, EVP Harry Kiil sold 1,483 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total value of $138,882.95. Following the completion of the sale, the executive vice president directly owned 42,186 shares in the company, valued at approximately $3,950,718.90. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Marinaro sold 10,420 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $96.00, for a total transaction of $1,000,320.00. Following the transaction, the executive vice president directly owned 105,916 shares of the company’s stock, valued at $10,167,936. This trade represents a 8.96% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 61,903 shares of company stock valued at $5,889,203. Insiders own 0.27% of the company’s stock.

About Medtronic

Medtronic plc (NYSE: MDT) is a global medical technology company that develops, manufactures and distributes devices and therapies used to diagnose, treat and manage a broad range of medical conditions. Its products support healthcare providers in areas including cardiac and vascular care, diabetes, neuroscience, surgical procedures and patient monitoring.

The company’s offerings include pacemakers, implantable defibrillators, heart valves and other structural heart products; insulin pumps and continuous glucose monitoring technologies; spinal and neurosurgical systems; deep-brain and spinal cord stimulation devices; surgical instruments and robotic-assisted technologies; and respiratory and patient-monitoring equipment.