Greenwood Capital Associates LLC Reduces Position in Medtronic PLC $MDT

Greenwood Capital Associates LLC lessened its holdings in shares of Medtronic PLC (NYSE:MDT) by 22.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,749 shares of the medical technology company’s stock after selling 18,868 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Medtronic were worth $5,697,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. CSM Advisors LLC grew its holdings in Medtronic by 13.2% during the 3rd quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock valued at $27,169,000 after buying an additional 33,167 shares in the last quarter. SageView Advisory Group LLC lifted its holdings in shares of Medtronic by 164.8% in the third quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock worth $2,305,000 after buying an additional 15,062 shares in the last quarter. Madison Asset Management LLC lifted its holdings in shares of Medtronic by 15.0% in the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock worth $18,752,000 after buying an additional 25,527 shares in the last quarter. Ticino Wealth bought a new position in shares of Medtronic in the fourth quarter valued at approximately $2,049,000. Finally, First Eagle Investment Management LLC grew its stake in Medtronic by 0.4% during the fourth quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock valued at $939,009,000 after acquiring an additional 40,196 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Mizuho cut their price target on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. BTIG Research upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Wednesday, June 3rd. Weiss Ratings cut shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Finally, Citigroup lowered their price objective on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and an average price target of $98.96.

Medtronic Trading Down 2.1%

Shares of MDT opened at $82.06 on Thursday. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The company has a market capitalization of $105.04 billion, a P/E ratio of 22.00, a P/E/G ratio of 2.25 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. The firm’s 50 day simple moving average is $79.01 and its 200 day simple moving average is $88.67.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be paid a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Friday, June 26th. Medtronic’s payout ratio is currently 77.21%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

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).