American National Bank & Trust Has $9.24 Million Stock Position in Medtronic PLC $MDT

Key Points

• American National Bank & Trust reduced its stake in Medtronic PLC by 6.9%, selling 7,861 shares and holding a total of 105,971 shares worth approximately $9.24 million.
• Medtronic reported earnings of $1.26 per share, exceeding analyst expectations, with a revenue of $8.58 billion for the quarter, marking a 7.7% increase year-over-year.
• The company announced a quarterly dividend of $0.71 per share, representing a yield of 3.0%, to be paid on October 17th to shareholders on record as of September 26th.

American National Bank & Trust lessened its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 6.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 105,971 shares of the medical technology company's stock after selling 7,861 shares during the period. American National Bank & Trust's holdings in Medtronic were worth $9,237,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Partners boosted its stake in Medtronic by 122.8% in the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company's stock worth $619,460,000 after purchasing an additional 3,809,450 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Medtronic by 28.8% in the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company's stock valued at $1,391,141,000 after purchasing an additional 3,461,221 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Medtronic by 42.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company's stock worth $903,915,000 after buying an additional 3,017,849 shares during the period. Nuveen LLC purchased a new position in shares of Medtronic during the first quarter valued at $260,649,000. Finally, Mackenzie Financial Corp raised its position in Medtronic by 220.9% during the first quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company's stock valued at $216,753,000 after buying an additional 1,660,357 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

MDT opened at $94.26 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The company has a market cap of $120.91 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 2.52 and a beta of 0.77. The stock has a 50-day moving average of $92.48 and a 200-day moving average of $88.39. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.03. The firm had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be paid a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic's dividend payout ratio (DPR) is presently 78.24%.

Analyst Ratings Changes

A number of equities research analysts have commented on MDT shares. Morgan Stanley restated an "overweight" rating and set a $107.00 price objective (up from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Sanford C. Bernstein raised their price target on shares of Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. UBS Group upped their price objective on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Wells Fargo & Company increased their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Finally, Citigroup boosted their price target on shares of Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Medtronic currently has an average rating of "Moderate Buy" and an average price target of $102.27.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares of the company's stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the firm's stock in a transaction on Monday, August 25th. The shares were purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director directly owned 5,000 shares of the company's stock, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company's stock.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.

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