Haverford Financial Services Inc. Reduces Holdings in Medtronic plc (NYSE:MDT)

Haverford Financial Services Inc. reduced its holdings in shares of Medtronic plc (NYSE:MDT) by 33.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,905 shares of the medical technology company’s stock after selling 31,301 shares during the quarter. Medtronic makes up 1.5% of Haverford Financial Services Inc.’s investment portfolio, making the stock its 27th largest position. Haverford Financial Services Inc.’s holdings in Medtronic were worth $4,945,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MDT. Segall Bryant & Hamill LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth about $2,641,000. Citizens Financial Group Inc. RI boosted its stake in shares of Medtronic by 31.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 15,873 shares of the medical technology company’s stock worth $1,439,000 after purchasing an additional 3,805 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Medtronic by 6.9% during the 3rd quarter. LPL Financial LLC now owns 1,092,135 shares of the medical technology company’s stock worth $98,325,000 after purchasing an additional 70,413 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Medtronic by 14.6% during the 3rd quarter. Pacer Advisors Inc. now owns 142,368 shares of the medical technology company’s stock worth $12,817,000 after purchasing an additional 18,171 shares during the last quarter. Finally, Allen Capital Group LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth about $259,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.9 %

MDT opened at $90.37 on Friday. The firm has a market capitalization of $115.90 billion, a P/E ratio of 27.47, a P/E/G ratio of 2.22 and a beta of 0.80. The firm’s 50 day moving average is $90.67 and its 200-day moving average is $88.07. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.10%. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Wall Street Analysts Forecast Growth

MDT has been the topic of several research analyst reports. Barclays raised their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. UBS Group raised their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and raised their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Truist Financial decreased their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $96.07.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

About Medtronic

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.