Medtronic PLC $MDT Shares Purchased by UMB Bank n.a.

Key Points

• UMB Bank n.a. increased its holdings in Medtronic PLC by 12.6% during the second quarter, owning a total of 83,380 shares valued at approximately $7.27 million.
• Analysts have raised their price targets for Medtronic, with Wells Fargo increasing it from $98 to $100 and Citigroup from $99 to $101, indicating a generally optimistic outlook on the stock.
• Medtronic recently announced a quarterly dividend of $0.71 per share, which reflects an annualized yield of 3.0% and a payout ratio of 78.24%.

UMB Bank n.a. increased its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 12.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,380 shares of the medical technology company's stock after purchasing an additional 9,304 shares during the quarter. UMB Bank n.a.'s holdings in Medtronic were worth $7,268,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Red Spruce Capital LLC increased its holdings in shares of Medtronic by 0.5% during the second 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 period. Certior Financial Group LLC increased its stake in Medtronic by 3.7% in the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock worth $310,000 after purchasing an additional 122 shares in the last quarter. Dunhill Financial LLC increased its stake in Medtronic by 17.2% in the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after purchasing an additional 124 shares in the last quarter. Cidel Asset Management Inc. boosted its position in Medtronic by 1.3% during the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock worth $856,000 after acquiring an additional 126 shares during the period. Finally, Petros Family Wealth LLC boosted its position in Medtronic by 4.3% during the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock worth $280,000 after acquiring an additional 127 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MDT has been the subject of several research reports. Sanford C. Bernstein lifted their price target on Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. 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. BTIG Research reiterated a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Citigroup increased their target price on Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Finally, Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Medtronic presently has a consensus rating of "Moderate Buy" and a consensus target price of $102.27.

Insiders Place Their Bets

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

Medtronic Trading Up 0.8%

NYSE:MDT traded up $0.73 during mid-day trading on Tuesday, reaching $95.35. 2,032,339 shares of the company's stock traded hands, compared to its average volume of 7,606,381. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25. The firm has a market capitalization of $122.30 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 2.50 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The company has a 50 day moving average price of $92.15 and a 200-day moving average price of $88.29.

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 (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts predict 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. Shareholders of record on Friday, September 26th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. 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.