Fulton Bank N.A. Has $2.32 Million Stock Position in Medtronic PLC $MDT

Key Points

• Fulton Bank increased its Medtronic position by 65.1% during the second quarter, bringing its holdings to 29,675 shares valued at approximately $2.32 million. Institutional investors collectively own 82.06% of the company.
• Medtronic exceeded quarterly earnings and revenue expectations, reporting $1.55 in EPS and $9.81 billion in revenue, with revenue up 9.9% year over year. The company also raised its quarterly dividend to $0.72, providing a 3.2% annualized yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $98.83 price target, supported by expected turnaround momentum and cardiac-care growth opportunities. However, investors are weighing whether the recent share-price advance already reflects the recovery.

Fulton Bank N.A. raised its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 65.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 29,675 shares of the medical technology company's stock after purchasing an additional 11,702 shares during the quarter. Fulton Bank N.A.'s holdings in Medtronic were worth $2,321,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Monetary Solutions Ltd acquired a new stake in shares of Medtronic during the fourth quarter worth $27,000. Anfield Capital Management LLC lifted its holdings in Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock valued at $27,000 after buying an additional 230 shares during the period. Acumen Wealth Advisors LLC acquired a new position in Medtronic in the fourth quarter valued at $29,000. Imprint Wealth LLC bought a new stake in Medtronic during the third quarter valued at $31,000. Finally, Basepoint Wealth LLC acquired a new stake in Medtronic during the 4th quarter worth about $32,000. Institutional investors own 82.06% of the company's stock.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the sale, the executive vice president owned 37,227 shares of the company's stock, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company's stock.

Medtronic News Roundup

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Analyst upgrades reinforce the turnaround thesis. UBS upgraded Medtronic to Buy from Neutral, citing evidence that a turnaround is underway. Additional analyst upgrades point to the company’s strongest annual revenue growth in roughly a decade, driven by its cardiac portfolio and new product launches. Medtronic Wins Analyst Upgrades, Is It Fully Priced?
• Positive Sentiment: Options activity signals increased bullish interest. Investors purchased 19,654 MDT call options, 56% above typical daily call volume. While this is speculative rather than a fundamental measure, it suggests rising short-term trader interest.
• Positive Sentiment: Growth opportunities remain substantial in cardiac care. A new industry report projects the global pulsed-field ablation market to grow from approximately $3.2 billion in 2026 to $14.6 billion by 2035. Medtronic is listed among the major competitors that could benefit from expanding adoption of the technology. Pulsed Field Ablation Global Market Report 2026
• Positive Sentiment: Pipeline collaboration is progressing. Orchestra BioMed said its BACKBEAT pivotal trial, conducted with Medtronic, remains on track to reach its enrollment target by the end of the third quarter, with primary data expected in the second quarter of 2027. Successful results could create an additional future growth driver. Orchestra BioMed Reports Second Quarter Results
• Neutral Sentiment: Valuation is becoming a key investor question. After its recent advance, investors are assessing whether Medtronic’s improving outlook is already reflected in the share price. The company’s forward growth, dividend support and FY2027 EPS guidance of $5.90–$6.00 provide fundamental support, but continued gains may require evidence that the recovery is sustainable.

Medtronic Trading Up 1.3%

MDT opened at $90.55 on Wednesday. The company has a fifty day moving average price of $82.59 and a two-hundred day moving average price of $86.48. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The company has a market cap of $115.91 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 2.40 and a beta of 0.55. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.01. The company had revenue of $9.81 billion for the quarter, compared to analysts' expectations of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business's revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts predict that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were issued a $0.72 dividend. The ex-dividend date was Friday, June 26th. This is an increase from Medtronic's previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 3.2%. Medtronic's dividend payout ratio is currently 77.21%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Evercore set a $105.00 price objective on Medtronic in a research report on Monday, July 6th. Leerink Partners cut their target price on Medtronic from $117.00 to $104.00 and set an "outperform" rating on the stock in a research report on Thursday, June 4th. Piper Sandler reaffirmed a "neutral" rating on shares of Medtronic in a research note on Monday. Royal Bank Of Canada reiterated an "outperform" rating and issued a $118.00 target price on shares of Medtronic in a report on Thursday, June 4th. Finally, Sanford C. Bernstein dropped their price target on Medtronic from $112.00 to $97.00 and set an "outperform" rating on the stock in a research note on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Medtronic presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.83.

About Medtronic

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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