First National Bank of Omaha Buys 78,690 Shares of Medtronic PLC $MDT

First National Bank of Omaha grew its stake in shares of Medtronic PLC (NYSE:MDT) by 1,828.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 82,994 shares of the medical technology company’s stock after purchasing an additional 78,690 shares during the period. First National Bank of Omaha’s holdings in Medtronic were worth $8,020,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. Lodestone Wealth Management LLC bought a new stake in Medtronic during the 4th quarter worth approximately $27,000. Anfield Capital Management LLC grew its holdings in shares of Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 230 shares in the last quarter. GoalVest Advisory LLC purchased a new stake in shares of Medtronic during the fourth quarter valued at approximately $29,000. Board of the Pension Protection Fund purchased a new stake in shares of Medtronic during the fourth quarter valued at approximately $29,000. Finally, Imprint Wealth LLC purchased a new stake in shares of Medtronic during the third quarter valued at approximately $31,000. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Performance

NYSE:MDT opened at $80.11 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The business has a fifty day simple moving average of $80.85 and a two-hundred day simple moving average of $91.38. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The company has a market capitalization of $102.85 billion, a P/E ratio of 21.48, a P/E/G ratio of 2.30 and a beta of 0.58.

Medtronic (NYSE:MDT) last released its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same period last year, the business posted $1.62 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, analysts expect that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be given a $0.72 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is 76.14%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the sale, the executive vice president directly owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays increased their price target on Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Weiss Ratings downgraded Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. decreased their price target on Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Robert W. Baird decreased their price target on Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Finally, Sanford C. Bernstein decreased their price target on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.00.

About Medtronic

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).