Greenwood Capital Associates LLC Decreases Holdings in Medtronic PLC $MDT

Greenwood Capital Associates LLC trimmed its holdings in Medtronic PLC (NYSE:MDT) by 22.3% in the first quarter, HoldingsChannel reports. The fund owned 65,749 shares of the medical technology company’s stock after selling 18,868 shares during the period. Greenwood Capital Associates LLC’s holdings in Medtronic were worth $5,697,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. CSM Advisors LLC lifted its stake in shares of Medtronic by 13.2% in the 3rd quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock valued at $27,169,000 after acquiring an additional 33,167 shares during the last quarter. SageView Advisory Group LLC grew its position in Medtronic by 164.8% during the 3rd quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock worth $2,305,000 after acquiring an additional 15,062 shares during the last quarter. Madison Asset Management LLC grew its position in Medtronic by 15.0% during the 4th quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock worth $18,752,000 after acquiring an additional 25,527 shares during the last quarter. Ticino Wealth purchased a new position in Medtronic in the 4th quarter worth approximately $2,049,000. Finally, First Eagle Investment Management LLC increased its stake in Medtronic by 0.4% in the 4th quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock worth $939,009,000 after purchasing an additional 40,196 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In other news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the sale, the executive vice president directly owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of analyst reports. Rothschild & Co Redburn dropped their price objective on Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a research note on Friday, June 5th. JPMorgan Chase & Co. decreased their target price on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. The Goldman Sachs Group lowered their price target on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Wells Fargo & Company cut their price target on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Finally, Evercore set a $105.00 price objective on shares of Medtronic in a research report on Monday. Seventeen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $98.96.

Medtronic Price Performance

MDT opened at $82.06 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The stock has a market capitalization of $105.04 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 2.25 and a beta of 0.56. The stock’s 50 day moving average price is $79.01 and its 200-day moving average price is $88.67.

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

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be issued a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. This represents a $2.88 annualized dividend and a yield of 3.5%. Medtronic’s dividend payout ratio (DPR) is currently 77.21%.

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).