NBT Bank N A NY Reduces Holdings in Medtronic PLC $MDT

NBT Bank N A NY lowered its position in shares of Medtronic PLC (NYSE:MDT) by 6.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,731 shares of the medical technology company’s stock after selling 1,048 shares during the period. NBT Bank N A NY’s holdings in Medtronic were worth $1,371,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Medtronic by 0.7% during the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock valued at $11,233,780,000 after purchasing an additional 810,854 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Medtronic by 7.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company’s stock valued at $2,001,903,000 after purchasing an additional 1,461,841 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Medtronic by 3.8% during the first quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company’s stock valued at $1,858,332,000 after purchasing an additional 756,192 shares during the period. Deutsche Bank AG raised its stake in shares of Medtronic by 3.1% during the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock valued at $1,708,220,000 after purchasing an additional 566,155 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Medtronic by 9.9% during the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock valued at $1,525,876,000 after purchasing an additional 1,535,308 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The stock was bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president directly 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 disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MDT. Wells Fargo & Company lifted their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Mizuho lifted their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Citigroup lifted their price target on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday. William Blair upgraded shares of Medtronic to a “hold” rating in a research note on Friday, July 11th. Finally, 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 note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.63.

Medtronic Stock Performance

Medtronic stock opened at $97.88 on Thursday. The company has a market cap of $125.55 billion, a PE ratio of 26.96, a P/E/G ratio of 2.59 and a beta of 0.78. The company has a fifty day moving average price of $93.31 and a two-hundred day moving average price of $88.65. 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 12 month low of $79.29 and a 12 month high of $99.37.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts expect that Medtronic PLC will post 5.46 earnings per share for the current 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. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. Medtronic’s payout ratio is 78.24%.

Medtronic 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.