US Bancorp DE Trims Holdings in Medtronic PLC $MDT

US Bancorp DE reduced its holdings in Medtronic PLC (NYSE:MDT) by 1.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,196,290 shares of the medical technology company’s stock after selling 22,102 shares during the quarter. US Bancorp DE’s holdings in Medtronic were worth $114,916,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MDT. Artisan Partners Limited Partnership increased its position in shares of Medtronic by 2.6% during the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock valued at $117,579,000 after buying an additional 31,314 shares during the period. SageView Advisory Group LLC boosted its position in Medtronic by 164.8% during the 3rd quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock valued at $2,305,000 after acquiring an additional 15,062 shares in the last quarter. CSM Advisors LLC grew its holdings in shares of Medtronic by 13.2% during the 3rd quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock worth $27,169,000 after acquiring an additional 33,167 shares during the period. UMB Bank n.a. raised its position in shares of Medtronic by 65.8% in the 3rd quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock worth $13,170,000 after acquiring an additional 54,898 shares in the last quarter. Finally, Applied Finance Capital Management LLC purchased a new position in shares of Medtronic in the 3rd quarter valued at approximately $1,308,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 3.2%

NYSE:MDT opened at $79.32 on Thursday. The stock has a market cap of $101.84 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 2.15 and a beta of 0.75. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average price is $88.77 and its 200-day moving average price is $94.91. Medtronic PLC has a 52 week low of $78.91 and a 52 week high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The company had revenue of $9.02 billion during the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities research analysts forecast that Medtronic PLC will post 5.57 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were paid a $0.71 dividend. The ex-dividend date was Friday, March 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.6%. Medtronic’s payout ratio is currently 79.11%.

Wall Street Analysts Forecast Growth

MDT has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $120.00 price objective on shares of Medtronic in a research report on Thursday, March 26th. Piper Sandler lowered their price target on shares of Medtronic from $105.00 to $91.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Leerink Partners reaffirmed an “outperform” rating and set a $119.00 target price on shares of Medtronic in a research note on Tuesday, March 10th. Evercore set a $106.00 price target on Medtronic and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Finally, Barclays raised their price objective on Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Fifteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.80.

Insider Activity

In related news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the sale, the executive vice president directly owned 32,768 shares of the company’s stock, valued at $3,201,761.28. This trade represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by insiders.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter?defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).