OLD National Bancorp IN Sells 360 Shares of Medtronic PLC $MDT

OLD National Bancorp IN reduced its holdings in shares of Medtronic PLC (NYSE:MDT) by 3.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,231 shares of the medical technology company’s stock after selling 360 shares during the quarter. OLD National Bancorp IN’s holdings in Medtronic were worth $805,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MDT. Legacy Advisory Services LLC acquired a new position in shares of Medtronic in the first quarter valued at $541,000. GC Wealth Management RIA LLC grew its stake in Medtronic by 20.6% in the 2nd quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock valued at $2,926,000 after buying an additional 5,734 shares during the last quarter. RNC Capital Management LLC raised its holdings in Medtronic by 8.8% in the 1st quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock valued at $37,474,000 after acquiring an additional 33,729 shares during the period. Commerce Bank raised its holdings in Medtronic by 1.7% in the 1st quarter. Commerce Bank now owns 145,984 shares of the medical technology company’s stock valued at $13,118,000 after acquiring an additional 2,429 shares during the period. Finally, Brighton Jones LLC boosted its holdings in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MDT. Wells Fargo & Company increased their target price on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a report on Friday. The Goldman Sachs Group dropped their target price on Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a report on Wednesday, October 1st. Mizuho boosted their target price on shares of Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Finally, Citigroup upped their price target on shares of Medtronic from $99.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and an average target price of $100.94.

Medtronic Stock Performance

NYSE:MDT opened at $98.46 on Tuesday. The company has a market cap of $126.29 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 2.57 and a beta of 0.78. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $98.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The stock has a fifty day moving average price of $93.07 and a 200-day moving average price of $88.52.

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

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio is 78.24%.

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the sale, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following 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 position. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company’s stock.

Medtronic Company Profile

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.