FineMark National Bank & Trust Decreases Stake in Medtronic PLC $MDT

FineMark National Bank & Trust reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 0.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,212 shares of the medical technology company’s stock after selling 698 shares during the period. FineMark National Bank & Trust’s holdings in Medtronic were worth $6,731,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MDT. Vanguard Group Inc. lifted its position in Medtronic by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after acquiring an additional 1,895,165 shares during the period. Geode Capital Management LLC raised its stake in shares of Medtronic by 1.1% in the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock worth $2,448,699,000 after purchasing an additional 310,684 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Medtronic by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock worth $1,854,616,000 after purchasing an additional 595,549 shares during the period. Deutsche Bank AG boosted its position in Medtronic by 3.1% in the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock valued at $1,708,220,000 after buying an additional 566,155 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Medtronic by 9.9% in the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock worth $1,525,876,000 after buying an additional 1,535,308 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MDT has been the subject of several research reports. Daiwa Capital Markets lifted their price objective on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Thursday, August 14th. JPMorgan Chase & Co. upped their price target on shares of Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a research report on Friday. Finally, Citigroup boosted their price objective on Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.06.

Insider Buying and Selling

In other news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the business’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 acquisition, the director owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. 0.26% of the stock is owned by insiders.

Medtronic Stock Up 4.7%

MDT stock opened at $100.83 on Wednesday. Medtronic PLC has a one year low of $79.29 and a one year high of $102.48. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The firm’s fifty day moving average is $94.64 and its 200 day moving average is $90.63. The firm has a market cap of $129.33 billion, a PE ratio of 27.78, a P/E/G ratio of 2.42 and a beta of 0.77.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.05. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period in the prior year, the company posted $1.26 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, research analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

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.