7,621 Medtronic PLC $MDT Shares Sold by American National Bank & Trust

American National Bank & Trust lessened its position in Medtronic PLC (NYSE:MDT) by 8.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,294 shares of the medical technology company’s stock after selling 7,621 shares during the quarter. American National Bank & Trust’s holdings in Medtronic were worth $7,101,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MDT. Monetary Solutions Ltd acquired a new stake in Medtronic in the 4th quarter worth $27,000. IAG Wealth Partners LLC acquired a new stake in Medtronic in the 2nd quarter valued at $30,000. Pin Oak Investment Advisors Inc. bought a new stake in Medtronic in the second quarter valued at $32,000. Community Bank N.A. acquired a new stake in shares of Medtronic in the 2nd quarter valued at $33,000. Finally, Core Capital Management & Research inc. acquired a new stake in shares of Medtronic during the 2nd quarter worth about $33,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MDT. Robert W. Baird increased their price target on Medtronic from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $92.00 price objective on shares of Medtronic in a report on Thursday, September 3rd. UBS Group raised their price target on Medtronic from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Needham & Company LLC reissued a “buy” rating on shares of Medtronic in a report on Thursday, September 17th. Finally, Wells Fargo & Company raised their target price on shares of Medtronic from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, September 2nd. Eighteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.92.

Insider Transactions at Medtronic

In other news, EVP Harry Kiil sold 1,483 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total value of $138,882.95. Following the transaction, the executive vice president directly owned 42,186 shares of the company’s stock, valued at $3,950,718.90. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by corporate insiders.

Medtronic Stock Down 0.5%

MDT stock traded down $0.47 during mid-day trading on Wednesday, hitting $86.62. 19,783,249 shares of the company were exchanged, compared to its average volume of 9,878,357. The firm has a market cap of $110.80 billion, a P/E ratio of 21.35, a P/E/G ratio of 2.00 and a beta of 0.55. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07. The firm’s 50 day simple moving average is $90.22 and its 200 day simple moving average is $84.76.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. The firm had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.26 EPS. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. On average, sell-side analysts predict that Medtronic PLC will post 5.98 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, September 25th. Medtronic’s dividend payout ratio is 70.94%.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures devices, therapies and healthcare solutions for treating chronic and acute conditions. Its products are used in areas including cardiac and vascular care, neuroscience, medical and surgical procedures, and diabetes management.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, stents and other cardiovascular products; neuromodulation systems, deep-brain stimulation devices and spinal technologies; surgical instruments, robotic-assisted surgery systems and gastrointestinal diagnostic tools; and insulin pumps and related diabetes technologies.

Medtronic traces its origins to 1949, when Earl Bakken and Palmer Hermundslie founded the company in Minneapolis, Minnesota.