Webster Bank N. A. Sells 5,225 Shares of Medtronic PLC $MDT

Key Points

• Webster Bank N.A. has decreased its holdings in Medtronic PLC by 24.2%, selling 5,225 shares during the second quarter, leaving it with 16,381 shares valued at approximately $1.43 million.
• Insider transactions include Director William R. Jellison buying 2,500 shares and EVP Harry Skip Kiil selling 8,605 shares, reflecting significant fluctuations in ownership among company executives.
• Medtronic recently reported earnings of $1.26 per share, exceeding estimates, and declared a quarterly dividend of $0.71 per share, indicating a robust financial performance.

Webster Bank N. A. reduced its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 24.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,381 shares of the medical technology company's stock after selling 5,225 shares during the quarter. Webster Bank N. A.'s holdings in Medtronic were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDT. Legacy Advisory Services LLC purchased a new stake in Medtronic during the first quarter valued at $541,000. Commerce Bank increased its position in Medtronic by 1.7% during the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company's stock valued at $13,118,000 after acquiring an additional 2,429 shares during the last quarter. RNC Capital Management LLC increased its position in Medtronic by 8.8% during the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company's stock valued at $37,474,000 after acquiring an additional 33,729 shares during the last quarter. Brighton Jones LLC increased its position in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after acquiring an additional 37,265 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Medtronic during the first quarter valued at $1,689,000. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director William R. Jellison purchased 2,500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 value of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares of the company's stock, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on MDT. Sanford C. Bernstein upped their price objective on Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Truist Financial upped their price target on Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research report on Thursday, August 21st. Leerink Partners began coverage on Medtronic in a research report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price target for the company. William Blair upgraded Medtronic to a "hold" rating in a research report on Friday, July 11th. Finally, BTIG Research restated a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $102.14.

Medtronic Stock Performance

NYSE:MDT opened at $94.05 on Monday. The company has a current ratio of 2.01, a quick ratio of 1.50 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 $96.25. The stock has a 50-day moving average price of $91.50 and a 200 day moving average price of $88.25. The stock has a market capitalization of $120.64 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.48 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $8.37 billion. During the same quarter last year, the business posted $1.23 earnings per share. The firm's revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic's dividend payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.