Savant Capital LLC Sells 15,300 Shares of Medtronic PLC $MDT

Savant Capital LLC lessened its holdings in shares of Medtronic PLC (NYSE:MDT) by 13.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 96,001 shares of the medical technology company’s stock after selling 15,300 shares during the period. Savant Capital LLC’s holdings in Medtronic were worth $8,368,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDT. Boston Partners grew its holdings in Medtronic by 122.8% during the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after acquiring an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Medtronic by 28.8% during the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock valued at $1,391,141,000 after purchasing an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Medtronic by 42.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock valued at $903,915,000 after purchasing an additional 3,017,849 shares in the last quarter. Nuveen LLC bought a new position in Medtronic in the 1st quarter worth approximately $260,649,000. Finally, Mackenzie Financial Corp lifted its holdings in Medtronic by 220.9% during the 1st quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock worth $216,753,000 after buying an additional 1,660,357 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Up 2.4%

Shares of MDT stock opened at $92.22 on Friday. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The firm has a fifty day moving average of $94.20 and a 200-day moving average of $89.96. The company has a market capitalization of $118.29 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 2.42 and a beta of 0.77.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same period in the prior year, the business earned $1.23 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is currently 78.24%.

Insider Buying and Selling

In other news, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the transaction, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William R. Jellison acquired 2,500 shares of the stock in a transaction dated Monday, August 25th. The stock was acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Truist Financial upped their target price on shares of Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Stifel Nicolaus raised their target price on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. Finally, William Blair upgraded shares of Medtronic to a “hold” rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and an average price target of $102.82.

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.