Medtronic PLC $MDT Position Cut by Citizens National Bank Trust Department

Key Points

• Citizens National Bank Trust Department has reduced its holdings in Medtronic PLC by 22.9% during the second quarter, now owning 13,743 shares valued at approximately $1.2 million.
• Insider activity included EVP Harry Skip Kiil selling 8,605 shares for $788,045, while Director William R. Jellison increased his position by 100% with the purchase of 2,500 shares.
• Medtronic recently declared a quarterly dividend of $0.71 per share, representing an annualized payout of $2.84 and a dividend yield of 2.9%.

Citizens National Bank Trust Department lowered its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 22.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,743 shares of the medical technology company's stock after selling 4,071 shares during the period. Citizens National Bank Trust Department's holdings in Medtronic were worth $1,198,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. 1248 Management LLC acquired a new position in shares of Medtronic during the first quarter worth approximately $26,000. Columbia River Financial Group LLC bought a new stake in Medtronic during the 1st quarter valued at $28,000. Twin Tree Management LP acquired a new position in Medtronic during the 1st quarter worth $29,000. Activest Wealth Management boosted its position in Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock worth $30,000 after acquiring an additional 322 shares during the period. Finally, Hughes Financial Services LLC bought a new position in shares of Medtronic in the first quarter worth $32,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Activity at Medtronic

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MDT shares. Wall Street Zen cut shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. Leerink Partners initiated coverage on shares of Medtronic in a report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price objective for the company. Sanford C. Bernstein raised their price objective on shares of Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. Finally, The Goldman Sachs Group cut their target price on Medtronic from $82.00 to $81.00 and set a "sell" rating for the company in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.63.

Medtronic Stock Up 0.0%

Shares of Medtronic stock opened at $98.44 on Wednesday. The stock's fifty day moving average is $93.19 and its 200-day moving average is $88.59. The firm has a market capitalization of $126.27 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 2.59 and a beta of 0.78. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. The business 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%.Medtronic's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. Medtronic's payout ratio is currently 78.24%.

About Medtronic

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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