US Bancorp DE Cuts Stock Holdings in Medtronic PLC $MDT

US Bancorp DE reduced its position in Medtronic PLC (NYSE:MDT) by 6.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,218,392 shares of the medical technology company’s stock after selling 83,566 shares during the period. US Bancorp DE’s holdings in Medtronic were worth $116,040,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Riverbend Wealth Management LLC lifted its holdings in shares of Medtronic by 3.2% during the third quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock valued at $332,000 after purchasing an additional 107 shares in the last quarter. Holistic Financial Partners lifted its stake in Medtronic by 3.0% during the 3rd quarter. Holistic Financial Partners now owns 3,697 shares of the medical technology company’s stock valued at $352,000 after acquiring an additional 109 shares during the period. Wynn Capital LLC boosted its holdings in shares of Medtronic by 2.4% during the 3rd quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock valued at $442,000 after acquiring an additional 110 shares during the last quarter. Meridian Investment Counsel Inc. grew its stake in shares of Medtronic by 0.4% in the third quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock worth $2,692,000 after acquiring an additional 110 shares during the period. Finally, Saxony Capital Management LLC raised its holdings in shares of Medtronic by 3.8% during the third quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock valued at $290,000 after purchasing an additional 112 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MDT shares. Barclays reaffirmed an “overweight” rating and issued a $118.00 target price on shares of Medtronic in a research report on Wednesday, February 18th. Sanford C. Bernstein upped their price objective on Medtronic from $111.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, January 9th. Citigroup assumed coverage on Medtronic in a report on Tuesday, February 3rd. They issued a “buy” rating and a $117.00 target price on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a research note on Monday, December 29th. Finally, Truist Financial lowered their price objective on shares of Medtronic from $107.00 to $103.00 and set a “hold” rating on the stock in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $110.84.

Medtronic Trading Up 0.3%

Medtronic stock opened at $96.97 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 12-month low of $79.55 and a 12-month high of $106.33. The firm has a market capitalization of $124.50 billion, a price-to-earnings ratio of 27.01, a P/E/G ratio of 2.43 and a beta of 0.71. The firm has a 50 day moving average of $98.95 and a 200 day moving average of $96.83.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The company had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter in the prior year, the firm posted $1.38 EPS. Medtronic’s quarterly revenue was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, December 26th were given a dividend of $0.71 per share. The ex-dividend date was Friday, December 26th. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. Medtronic’s dividend payout ratio (DPR) is currently 79.11%.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the transaction, the executive vice president directly owned 32,768 shares of the company’s stock, valued at approximately $3,201,761.28. The trade was a 61.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

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).