Country Club Bank Decreases Stock Holdings in Medtronic PLC $MDT

Key Points

• Country Club Bank has reduced its stock holdings in Medtronic PLC by 7.5%, now owning 87,729 shares worth approximately $7.5 million.
• Insider trades were notable as Director William R. Jellison purchased 2,500 shares, while EVP Harry Skip Kiil sold 8,605 shares, reflecting differing confidence in the company's prospects.
• Analysts' ratings for Medtronic show a mixed outlook, with upgrades raising the target price to between $100 and $115, while one analyst downgraded the stock to a "hold" rating.

Country Club Bank reduced its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 7.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,729 shares of the medical technology company's stock after selling 7,155 shares during the period. Country Club Bank's holdings in Medtronic were worth $7,546,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Red Spruce Capital LLC lifted its stake in shares of Medtronic by 0.5% in the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company's stock valued at $2,067,000 after purchasing an additional 118 shares during the last quarter. Certior Financial Group LLC raised its holdings in Medtronic by 3.7% during the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock valued at $310,000 after buying an additional 122 shares during the period. Dunhill Financial LLC lifted its position in Medtronic by 17.2% in the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after buying an additional 124 shares during the last quarter. Cidel Asset Management Inc. boosted its stake in Medtronic by 1.3% during the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock worth $856,000 after buying an additional 126 shares during the period. Finally, Petros Family Wealth LLC boosted its stake in Medtronic by 4.3% during the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock worth $280,000 after buying an additional 127 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average cost 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 in the company, valued at $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was 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 directly owned 35,615 shares of the company's stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Mizuho increased their target price on shares of Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Daiwa Capital Markets increased their price objective on shares of Medtronic from $101.00 to $104.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Wall Street Zen lowered Medtronic from a "buy" rating to a "hold" rating in a research report on Friday. Argus upped their target price on Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. Finally, Morgan Stanley reissued an "overweight" rating and set a $107.00 price target (up from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $100.94.

Medtronic Price Performance

Shares of MDT stock opened at $98.46 on Tuesday. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $98.66. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $93.07 and a two-hundred day simple moving average of $88.52. The stock has a market capitalization of $126.29 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 2.57 and a beta of 0.78.

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

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's dividend payout ratio is presently 78.24%.

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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