Savant Capital LLC Lowers Position in Medtronic PLC $MDT

Savant Capital LLC cut its stake in shares of Medtronic PLC (NYSE:MDT) by 77.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 and hedge funds also recently bought and sold shares of MDT. Lodestone Wealth Management LLC purchased a new position in Medtronic during the fourth quarter valued at $27,000. Anfield Capital Management LLC lifted its position in Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 230 shares in the last quarter. Board of the Pension Protection Fund purchased a new position in Medtronic during the fourth quarter valued at $29,000. GoalVest Advisory LLC purchased a new position in Medtronic during the fourth quarter valued at $29,000. Finally, Imprint Wealth LLC purchased a new position in Medtronic during the third quarter valued at $31,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of Medtronic stock opened at $73.73 on Monday. The stock’s 50-day simple moving average is $82.36 and its 200-day simple moving average is $92.64. Medtronic PLC has a 52 week low of $73.67 and a 52 week high of $106.33. The company has a market capitalization of $94.66 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.76 and a beta of 0.58. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57.

Medtronic Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently weighed in on MDT. Argus lowered their target price on Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Truist Financial lowered their target price on Medtronic from $103.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, April 15th. Jefferies Financial Group reiterated a “hold” rating and set a $95.00 target price on shares of Medtronic in a research report on Thursday, April 23rd. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Mizuho lowered their price objective on Medtronic from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $106.45.

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).