Chemung Canal Trust Co. Trims Position in Medtronic PLC $MDT

Chemung Canal Trust Co. trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 24.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,957 shares of the medical technology company’s stock after selling 16,261 shares during the period. Chemung Canal Trust Co.’s holdings in Medtronic were worth $4,415,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Medtronic in the 4th quarter worth $1,653,485,000. Capital Research Global Investors lifted its position in shares of Medtronic by 12.6% in the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after acquiring an additional 3,880,174 shares in the last quarter. Barclays PLC lifted its position in shares of Medtronic by 104.6% in the third quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock valued at $650,604,000 after acquiring an additional 3,492,192 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Medtronic by 78.3% in the third quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock valued at $717,143,000 after acquiring an additional 3,307,211 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Medtronic by 35.3% in the third quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock worth $970,456,000 after acquiring an additional 2,658,981 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 related news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Medtronic Price Performance

NYSE:MDT opened at $80.94 on Friday. The business’s 50-day moving average is $79.39 and its 200 day moving average is $89.74. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The company has a market capitalization of $103.60 billion, a P/E ratio of 21.70, a P/E/G ratio of 2.17 and a beta of 0.58. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 0.52.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter last year, the business posted $1.62 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities research analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is currently 76.14%.

Medtronic News Summary

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Analysts highlighted Medtronic’s positioning in cardiac ablation, diabetes care, and hypertension treatment, including progress with its FDA-approved Symplicity Spyral renal denervation system, which supports the long-term growth story. How Investors May Respond To Medtronic (MDT) Optimism On Renal Denervation Amid Mixed Quantitative Signals
• Positive Sentiment: Medtronic shares have also benefited recently from broad interest around its medical device pipeline and relatively steady operating performance, helping offset some short-term caution.
• Neutral Sentiment: Unusually high options volume suggests traders are positioning for a larger move in MDT, but the direction is not definitive on its own.
• Negative Sentiment: CEO Geoffrey Martha said tariff costs are now expected to total about $250 million in fiscal 2027, which is still a meaningful headwind despite being lower than the prior $300 million estimate. Medtronic plc (MDT) CEO Discloses the Impacts of Tariffs on the Company
• Negative Sentiment: Heavy put buying — about 25,075 contracts, well above normal levels — points to bearish sentiment and concern that the shares could weaken further.

Analysts Set New Price Targets

Several research firms recently issued reports on MDT. Royal Bank Of Canada reiterated an “outperform” rating and set a $118.00 target price on shares of Medtronic in a research report on Thursday, June 4th. Mizuho lowered their price target on Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, June 3rd. Argus dropped their price target on Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Evercore set a $106.00 price objective on shares of Medtronic and gave the company an “outperform” rating in a report on Thursday, April 9th. Finally, Sanford C. Bernstein reduced their price objective on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Seventeen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and an average price target of $99.00.

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).