UMB Bank n.a. Purchases 54,898 Shares of Medtronic PLC $MDT

UMB Bank n.a. lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 65.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,278 shares of the medical technology company’s stock after purchasing an additional 54,898 shares during the period. UMB Bank n.a.’s holdings in Medtronic were worth $13,170,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MDT. Riverbend Wealth Management LLC grew its holdings in Medtronic by 3.2% during the third quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock worth $332,000 after purchasing an additional 107 shares during the period. Wynn Capital LLC lifted its holdings in shares of Medtronic by 2.4% during the third quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock worth $442,000 after purchasing an additional 110 shares during the period. Meridian Investment Counsel Inc. raised its stake in Medtronic by 0.4% during the third quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock worth $2,692,000 after buying an additional 110 shares during the last quarter. Saxony Capital Management LLC increased its holdings in Medtronic by 3.8% in the third quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock worth $290,000 after purchasing an additional 112 shares in the last quarter. Finally, Cape Investment Advisory Inc. increased its position in Medtronic by 3.2% in the 2nd quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock valued at $314,000 after buying an additional 113 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. Robert W. Baird set a $103.00 price objective on shares of Medtronic in a report on Tuesday, December 16th. Piper Sandler restated a “neutral” rating on shares of Medtronic in a report on Monday, January 5th. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, TD Cowen reissued a “buy” rating on shares of Medtronic in a research report on Friday, November 14th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.28.

Medtronic Trading Up 1.9%

Shares of NYSE MDT opened at $102.96 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. The stock has a market capitalization of $131.99 billion, a P/E ratio of 27.75, a PEG ratio of 2.66 and a beta of 0.71. Medtronic PLC has a 1-year low of $79.55 and a 1-year high of $106.33. The business’s 50 day moving average is $99.60 and its two-hundred day moving average is $95.69.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.05. The firm had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared 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. This represents a $2.84 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, December 26th. Medtronic’s dividend payout ratio (DPR) is currently 76.55%.

Medtronic Company 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).