Nixon Peabody Trust Co. Has $944,000 Holdings in Medtronic PLC $MDT

Nixon Peabody Trust Co. lessened its holdings in Medtronic PLC (NYSE:MDT) by 13.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,825 shares of the medical technology company’s stock after selling 1,721 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Medtronic were worth $944,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Legacy Advisory Services LLC acquired a new position in shares of Medtronic in the 1st quarter valued at $541,000. GC Wealth Management RIA LLC lifted its holdings in Medtronic by 20.6% during the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock worth $2,926,000 after acquiring an additional 5,734 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in Medtronic by 22.0% in the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock valued at $2,562,000 after acquiring an additional 5,296 shares during the period. World Investment Advisors increased its holdings in shares of Medtronic by 1.9% in the second quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock worth $13,608,000 after acquiring an additional 2,868 shares in the last quarter. Finally, Sivik Global Healthcare LLC raised its position in shares of Medtronic by 6.7% during the second quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock worth $6,974,000 after purchasing an additional 5,000 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Up 0.3%

Shares of MDT stock opened at $96.12 on Friday. The firm’s fifty day moving average price is $94.37 and its two-hundred day moving average price is $90.26. 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 1 year low of $79.29 and a 1 year high of $99.37. The firm has a market capitalization of $123.29 billion, a P/E ratio of 26.48, a PEG ratio of 2.42 and a beta of 0.77.

Medtronic (NYSE:MDT) last announced 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. The company had revenue of $8.58 billion during 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%.Medtronic’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction dated 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 owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MDT has been the subject of several research analyst reports. UBS Group boosted their price objective on Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Truist Financial increased their price objective on shares of Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a report on Wednesday, October 8th. Citigroup upped their target price on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Finally, Stifel Nicolaus increased their target price on Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.06.

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.