First Bancorp Inc ME Acquires Shares of 2,379 Medtronic PLC $MDT

First Bancorp Inc ME acquired a new stake in shares of Medtronic PLC (NYSE:MDT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,379 shares of the medical technology company’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Medtronic during the second quarter valued at $10,286,000. Quotient Wealth Partners LLC increased its holdings in shares of Medtronic by 2.8% during the second quarter. Quotient Wealth Partners LLC now owns 8,533 shares of the medical technology company’s stock valued at $744,000 after acquiring an additional 236 shares in the last quarter. Stanley Laman Group Ltd. increased its holdings in shares of Medtronic by 15.4% during the second quarter. Stanley Laman Group Ltd. now owns 3,620 shares of the medical technology company’s stock valued at $316,000 after acquiring an additional 483 shares in the last quarter. Hoese & Co LLP increased its holdings in shares of Medtronic by 140.6% during the second quarter. Hoese & Co LLP now owns 2,384 shares of the medical technology company’s stock valued at $208,000 after acquiring an additional 1,393 shares in the last quarter. Finally, Foster & Motley Inc. increased its holdings in shares of Medtronic by 9.5% during the second quarter. Foster & Motley Inc. now owns 38,185 shares of the medical technology company’s stock valued at $3,329,000 after acquiring an additional 3,305 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity

In other news, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction on Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s 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 transaction, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Medtronic Price Performance

NYSE MDT opened at $95.62 on Friday. The company has a market capitalization of $122.65 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 2.52 and a beta of 0.78. 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 50-day moving average of $94.07 and a 200 day moving average of $88.98. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37.

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

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Analyst Ratings Changes

MDT has been the subject of several analyst reports. Evercore ISI raised their price target on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. William Blair upgraded Medtronic to a “hold” rating in a report on Friday, July 11th. Truist Financial raised their price target on Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a report on Wednesday. Sanford C. Bernstein lifted their price objective on Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Finally, BTIG Research reiterated a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.