NBT Bank N.A. Buys New Stake in Medtronic PLC $MDT

NBT Bank N.A. bought a new stake in shares of Medtronic PLC (NYSE:MDT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 14,759 shares of the medical technology company’s stock, valued at approximately $1,274,000.

Several other hedge funds have also added to or reduced their stakes in MDT. Gradient Investments LLC raised its holdings in Medtronic by 3.9% during the 2nd quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company’s stock valued at $38,842,000 after buying an additional 18,509 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Medtronic by 14.8% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 149,708 shares of the medical technology company’s stock valued at $12,918,000 after purchasing an additional 19,315 shares during the period. Czech National Bank boosted its holdings in shares of Medtronic by 4.7% during the 2nd quarter. Czech National Bank now owns 365,443 shares of the medical technology company’s stock valued at $28,589,000 after buying an additional 16,292 shares in the last quarter. Worth Asset Management LLC bought a new position in shares of Medtronic during the third quarter valued at approximately $1,056,000. Finally, Congress Asset Management Co. purchased a new position in Medtronic during the third quarter valued at $76,201,000. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Down 1.1%

Shares of MDT opened at $95.48 on Friday. The stock has a market capitalization of $122.13 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 2.26 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 business’s 50 day simple moving average is $91.43 and its 200-day simple moving average is $85.30. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54.

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

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, September 25th were given a dividend of $0.72 per share. The ex-dividend date was Friday, September 25th. This represents a $2.88 annualized dividend and a yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is 70.94%.

Analyst Ratings Changes

Several equities research analysts recently commented on MDT shares. Needham & Company LLC reaffirmed a “buy” rating on shares of Medtronic in a research report on Thursday, September 17th. Bank of America raised their target price on shares of Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. BTIG Research lowered their price objective on Medtronic from $100.00 to $99.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Medtronic in a research note on Wednesday, September 30th. Finally, Wells Fargo & Company boosted their price target on Medtronic from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, September 2nd. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average price target of $102.88.

Insiders Place Their Bets

In other news, CEO Geoffrey Martha sold 50,000 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $95.00, for a total value of $4,750,000.00. Following the sale, the chief executive officer directly owned 277,866 shares in the company, valued at $26,397,270. The trade was a 15.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harry Kiil sold 1,483 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total value of $138,882.95. Following the sale, the executive vice president owned 42,186 shares in the company, valued at approximately $3,950,718.90. This trade represents a 3.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,903 shares of company stock valued at $5,889,203 in the last three months. Corporate insiders own 0.27% of the company’s stock.

About Medtronic

Medtronic plc (NYSE: MDT) is a global medical technology company that develops, manufactures and distributes devices and therapies used to diagnose, treat and manage a broad range of medical conditions. Its products support healthcare providers in areas including cardiac and vascular care, diabetes, neuroscience, surgical procedures and patient monitoring.

The company’s offerings include pacemakers, implantable defibrillators, heart valves and other structural heart products; insulin pumps and continuous glucose monitoring technologies; spinal and neurosurgical systems; deep-brain and spinal cord stimulation devices; surgical instruments and robotic-assisted technologies; and respiratory and patient-monitoring equipment.