13,988 Medtronic PLC $MDT Shares Sold by Park National Corp OH

Key Points

• Park National Corp OH reduced its Medtronic stake by 12% in the third quarter, selling 13,988 shares and retaining 102,898 shares valued at approximately $8.9 million. Institutional investors collectively own 82.06% of the company.
• Medtronic shares recently rose 1.6% to $87.76, while analysts maintain a “Moderate Buy” consensus with an average price target of $103.92. The company reported quarterly EPS of $1.45, exceeding estimates, and revenue increased 13.7% year over year to $9.76 billion.
• Medtronic announced a quarterly dividend of $0.72 per share, equivalent to $2.88 annually and a 3.3% yield. An executive vice president also sold 1,483 shares, while insiders own only 0.27% of the company.

Park National Corp OH lowered its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 12.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,898 shares of the medical technology company's stock after selling 13,988 shares during the period. Park National Corp OH's holdings in Medtronic were worth $8,879,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arlington Trust Co LLC lifted its holdings in Medtronic by 11.6% in the 2nd quarter. Arlington Trust Co LLC now owns 1,157 shares of the medical technology company's stock worth $91,000 after buying an additional 120 shares during the period. Bigelow Investment Advisors LLC raised its holdings in shares of Medtronic by 1.1% during the first quarter. Bigelow Investment Advisors LLC now owns 11,125 shares of the medical technology company's stock valued at $964,000 after acquiring an additional 121 shares in the last quarter. Bank & Trust Co lifted its stake in Medtronic by 2.8% in the second quarter. Bank & Trust Co now owns 4,373 shares of the medical technology company's stock worth $342,000 after acquiring an additional 121 shares during the period. Integrity Alliance LLC. boosted its holdings in Medtronic by 1.7% in the second quarter. Integrity Alliance LLC. now owns 7,388 shares of the medical technology company's stock valued at $578,000 after acquiring an additional 125 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its holdings in Medtronic by 1.3% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 9,857 shares of the medical technology company's stock valued at $857,000 after acquiring an additional 128 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Up 1.6%

Medtronic stock traded up $1.38 during mid-day trading on Monday, hitting $87.76. The company had a trading volume of 17,111,818 shares, compared to its average volume of 9,463,930. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The stock's 50 day moving average price is $90.15 and its two-hundred day moving average price is $84.76. The company has a market capitalization of $112.26 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 1.97 and a beta of 0.55. 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 (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.06. The business had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. Medtronic's revenue was up 13.7% compared to the same quarter last year. During the same period last year, the business earned $1.26 EPS. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.3%. Medtronic's dividend payout ratio (DPR) is presently 70.94%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $92.00 price objective on shares of Medtronic in a report on Thursday, September 3rd. Evercore set a $105.00 price objective on Medtronic in a research report on Monday, July 6th. Robert W. Baird increased their target price on Medtronic from $91.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 2nd. Wall Street Zen upgraded Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, TD Cowen restated a "buy" rating and set a $110.00 price target on shares of Medtronic in a research report on Wednesday, September 30th. Nineteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $103.92.

Insider Activity at Medtronic

In other news, EVP Harry Kiil sold 1,483 shares of the business's stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total value of $138,882.95. Following the completion of the transaction, the executive vice president owned 42,186 shares in the company, valued at $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 is available through this link. Insiders own 0.27% of the company's stock.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures devices, therapies and healthcare solutions for treating chronic and acute conditions. Its products are used in areas including cardiac and vascular care, neuroscience, medical and surgical procedures, and diabetes management.

The company's portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, stents and other cardiovascular products; neuromodulation systems, deep-brain stimulation devices and spinal technologies; surgical instruments, robotic-assisted surgery systems and gastrointestinal diagnostic tools; and insulin pumps and related diabetes technologies.

Medtronic traces its origins to 1949, when Earl Bakken and Palmer Hermundslie founded the company in Minneapolis, Minnesota.

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