34,434 Shares in Medtronic PLC $MDT Acquired by Trust Co. of Vermont

Key Points

• Trust Co. of Vermont acquired 34,434 Medtronic shares worth approximately $2.7 million during the second quarter. Institutional investors and hedge funds collectively own 82.06% of the company.
• Medtronic reported quarterly revenue of $9.81 billion, up 9.9% year over year, and earnings of $1.55 per share, slightly exceeding analyst expectations. Analysts maintain a consensus “Moderate Buy” rating with a $98.83 price target.
• The company declared a quarterly dividend of $0.72 per share, equivalent to an annualized $2.88 payout and a 3.1% yield. An executive vice president separately sold 4,189 shares, reducing his holdings by 10.11%.

Trust Co. of Vermont bought a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 34,434 shares of the medical technology company's stock, valued at approximately $2,694,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new stake in Medtronic in the 4th quarter valued at about $1,653,485,000. WCM Investment Management LLC bought a new position in shares of Medtronic in the first quarter worth about $965,922,000. Capital Research Global Investors lifted its position in shares of Medtronic by 12.6% during the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company's stock worth $3,321,101,000 after purchasing an additional 3,880,174 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Medtronic by 35.3% during the third quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company's stock worth $970,456,000 after purchasing an additional 2,658,981 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Medtronic by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company's stock valued at $12,388,027,000 after purchasing an additional 1,888,381 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction dated 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 filing with the SEC, which is available at the SEC website. Company insiders own 0.26% of the company's stock.

Medtronic Stock Down 1.8%

Shares of NYSE:MDT opened at $92.45 on Friday. The company has a 50 day moving average price of $84.12 and a two-hundred day moving average price of $86.01. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The company has a market capitalization of $118.33 billion, a PE ratio of 24.79, a PEG ratio of 2.52 and a beta of 0.55. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating 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 business had revenue of $9.81 billion for the quarter, compared to analysts' expectations of $9.62 billion. During the same quarter in the previous year, the business posted $1.62 EPS. Medtronic'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. Analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be issued a dividend of $0.72 per share. The ex-dividend date is Friday, September 25th. This represents a $2.88 annualized dividend and a yield of 3.1%. Medtronic's dividend payout ratio is presently 77.21%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a "buy" rating and issued a $101.00 price target on shares of Medtronic in a report on Wednesday, June 17th. Robert W. Baird reduced their price objective on Medtronic from $93.00 to $85.00 and set a "neutral" rating on the stock in a report on Thursday, June 4th. Wall Street Zen upgraded Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. UBS Group raised Medtronic from a "neutral" rating to a "buy" rating and lifted their target price for the company from $85.00 to $100.00 in a research note on Tuesday, July 28th. Finally, Stifel Nicolaus set a $80.00 target price on Medtronic in a research report on Wednesday, June 3rd. Eighteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Medtronic has a consensus rating of "Moderate Buy" and a consensus price target of $98.83.

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).

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