Associated Banc Corp Purchases 97,013 Shares of Medtronic PLC $MDT

Associated Banc Corp acquired a new position in Medtronic PLC (NYSE:MDT - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 97,013 shares of the medical technology company's stock, valued at approximately $8,371,000.

Several other large investors also recently added to or reduced their stakes in MDT. Kennebec Savings Bank boosted its holdings in shares of Medtronic by 1.2% in the third quarter. Kennebec Savings Bank now owns 9,201 shares of the medical technology company's stock worth $794,000 after acquiring an additional 110 shares during the period. Petredis Investment Advisors LLC lifted its stake in Medtronic by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 26,369 shares of the medical technology company's stock worth $2,275,000 after purchasing an additional 114 shares in the last quarter. Aviance Capital Partners LLC boosted its holdings in Medtronic by 2.1% in the 3rd quarter. Aviance Capital Partners LLC now owns 5,469 shares of the medical technology company's stock valued at $472,000 after purchasing an additional 114 shares during the period. Arlington Trust Co LLC boosted 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 valued at $91,000 after purchasing an additional 120 shares during the period. Finally, Bank & Trust Co boosted its holdings in Medtronic by 2.8% in the 2nd quarter. Bank & Trust Co now owns 4,373 shares of the medical technology company's stock valued at $342,000 after purchasing an additional 121 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the 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 sale, the executive vice president owned 42,186 shares in the company, valued at approximately $3,950,718.90. This represents a 3.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Marinaro sold 10,420 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $96.00, for a total transaction of $1,000,320.00. Following the sale, the executive vice president directly owned 105,916 shares of the company's stock, valued at approximately $10,167,936. This trade represents a 8.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 61,903 shares of company stock worth $5,889,203. Insiders own 0.27% of the company's stock.

Medtronic Stock Performance

Shares of MDT stock opened at $98.95 on Wednesday. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The firm has a market capitalization of $126.58 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 2.32 and a beta of 0.56. The stock has a fifty day moving average of $91.94 and a 200 day moving average of $88.36. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share 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 for the quarter, compared to analyst estimates of $9.55 billion. During the same period in the previous year, the company posted $1.26 earnings per share. 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. As a group, research analysts expect that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders 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 dividend on an annualized basis and a yield of 2.9%. Medtronic's payout ratio is 70.94%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MDT shares. Mizuho set a $115.00 price target on shares of Medtronic in a research report on Wednesday, September 2nd. Needham & Company LLC reiterated a "buy" rating on shares of Medtronic in a research report on Thursday, September 17th. Bank of America lifted their price objective on Medtronic from $95.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. UBS Group restated a "cautious" rating on shares of Medtronic in a research report on Wednesday, October 14th. Finally, Stifel Nicolaus raised their price target on Medtronic from $80.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, September 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and an average target price of $102.88.

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.

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