Savant Capital LLC Cuts Holdings in Medtronic PLC $MDT

Savant Capital LLC trimmed its holdings in shares of Medtronic PLC (NYSE:MDT) by 77.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,885 shares of the medical technology company’s stock after selling 73,433 shares during the period. Savant Capital LLC’s holdings in Medtronic were worth $2,102,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after purchasing an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Medtronic by 9.6% during the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after purchasing an additional 381 shares in the last quarter. Jump Financial LLC bought a new position in shares of Medtronic during the second quarter valued at $299,000. Main Street Financial Solutions LLC lifted its holdings in shares of Medtronic by 28.9% during the second quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock valued at $1,251,000 after purchasing an additional 3,218 shares in the last quarter. Finally, HUB Investment Partners LLC lifted its holdings in shares of Medtronic by 21.3% during the second quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock valued at $1,676,000 after purchasing an additional 3,376 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Performance

Shares of MDT opened at $73.73 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. Medtronic PLC has a one year low of $73.67 and a one year high of $106.33. The firm has a market capitalization of $94.66 billion, a P/E ratio of 20.54, a PEG ratio of 1.76 and a beta of 0.58. The business has a fifty day moving average of $82.36 and a 200 day moving average of $92.64.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were issued a $0.71 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.9%. Medtronic’s payout ratio is presently 79.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MDT. Weiss Ratings downgraded Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Citigroup lowered their price target on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Evercore set a $106.00 price target on Medtronic and gave the company an “outperform” rating in a report on Thursday, April 9th. Truist Financial lowered their price target on Medtronic from $103.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, April 15th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $95.00 price target on shares of Medtronic in a report on Thursday, April 23rd. Fifteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.45.

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).