Sawyer & Company Inc Reduces Holdings in Medtronic plc (NYSE:MDT)

Sawyer & Company Inc cut its holdings in Medtronic plc (NYSE:MDT) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,763 shares of the medical technology company’s stock after selling 680 shares during the quarter. Sawyer & Company Inc’s holdings in Medtronic were worth $1,659,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Clear Harbor Asset Management LLC increased its position in Medtronic by 1.2% during the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after buying an additional 111 shares in the last quarter. Guardian Wealth Management Inc. boosted its stake in shares of Medtronic by 0.9% during the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after purchasing an additional 115 shares during the last quarter. First PREMIER Bank raised its position in shares of Medtronic by 1.8% in the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after buying an additional 116 shares during the last quarter. First City Capital Management Inc. boosted its position in Medtronic by 2.9% during the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after acquiring an additional 116 shares during the last quarter. Finally, Hardy Reed LLC grew its stake in Medtronic by 4.4% in the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after acquiring an additional 116 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Up 0.1 %

Shares of Medtronic stock opened at $85.33 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68. The business has a 50-day moving average of $83.74 and a 200-day moving average of $85.01. The company has a market capitalization of $109.42 billion, a PE ratio of 26.09, a P/E/G ratio of 2.28 and a beta of 0.83.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. As a group, equities analysts forecast that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Insider Buying and Selling

In other news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MDT has been the subject of several analyst reports. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Evercore ISI boosted their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Sanford C. Bernstein increased their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $95.00.

Medtronic Company Profile

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.