CNB Bank Sells 519 Shares of Medtronic PLC $MDT

CNB Bank cut its holdings in Medtronic PLC (NYSE:MDT) by 26.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,480 shares of the medical technology company’s stock after selling 519 shares during the quarter. CNB Bank’s holdings in Medtronic were worth $129,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. 1248 Management LLC acquired a new position in shares of Medtronic during the first quarter worth approximately $26,000. Columbia River Financial Group LLC acquired a new position in Medtronic during the 1st quarter worth $28,000. Twin Tree Management LP bought a new position in Medtronic in the 1st quarter valued at $29,000. Activest Wealth Management increased its stake in shares of Medtronic by 3,577.8% in the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares during the period. Finally, Hughes Financial Services LLC acquired a new stake in shares of Medtronic in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Down 0.5%

Medtronic stock opened at $93.76 on Friday. The firm has a market capitalization of $120.26 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 2.47 and a beta of 0.78. The company’s 50 day simple moving average is $94.32 and its 200 day simple moving average is $89.39. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. The firm had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were issued a dividend of $0.71 per share. The ex-dividend date was Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic’s payout ratio is currently 78.24%.

Insider Activity

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was purchased 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. The trade was a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MDT. UBS Group raised their price target on Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Evercore ISI upped their target price on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Daiwa Capital Markets lifted their price target on shares of Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Wolfe Research upgraded shares of Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Finally, Citigroup raised their price objective on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and an average target price of $102.82.

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.