Atlantic Union Bankshares Corp Acquires 6,504 Shares of Medtronic PLC $MDT

Atlantic Union Bankshares Corp grew its holdings in Medtronic PLC (NYSE:MDT) by 60.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,273 shares of the medical technology company’s stock after acquiring an additional 6,504 shares during the period. Atlantic Union Bankshares Corp’s holdings in Medtronic were worth $1,506,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MDT. Vanguard Group Inc. increased its position in Medtronic by 0.7% during the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock worth $11,233,780,000 after buying an additional 810,854 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Medtronic by 7.0% during the 1st 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 acquiring an additional 1,461,841 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Medtronic by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock valued at $1,854,616,000 after acquiring an additional 595,549 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Medtronic by 3.1% in the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock valued at $1,708,220,000 after acquiring an additional 566,155 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Medtronic by 9.9% in the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock worth $1,525,876,000 after purchasing an additional 1,535,308 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Up 2.4%

Shares of MDT opened at $92.22 on Friday. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $118.29 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 2.42 and a beta of 0.77. The stock’s 50-day moving average price is $94.20 and its 200 day moving average price is $89.96.

Medtronic (NYSE:MDT) last announced 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. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter last year, the company earned $1.23 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. Medtronic’s payout ratio is currently 78.24%.

Analysts Set New Price Targets

Several equities analysts have commented on MDT shares. Sanford C. Bernstein reiterated an “outperform” rating and set a $98.00 price target on shares of Medtronic in a report on Friday, October 31st. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $107.00 target price (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. UBS Group upped their price target on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Finally, Robert W. Baird raised their price target on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.82.

Insider Buying and Selling at Medtronic

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was bought 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 $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.26% of the company’s stock.

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.