Savvy Advisors Inc. Grows Holdings in Medtronic plc (NYSE:MDT)

Savvy Advisors Inc. lifted its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 110.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,431 shares of the medical technology company's stock after acquiring an additional 4,942 shares during the period. Savvy Advisors Inc.'s holdings in Medtronic were worth $753,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MDT. Stamos Capital Partners L.P. lifted its holdings in Medtronic by 4.9% during the 4th quarter. Stamos Capital Partners L.P. now owns 59,360 shares of the medical technology company's stock valued at $4,742,000 after purchasing an additional 2,760 shares during the last quarter. Sagespring Wealth Partners LLC bought a new position in Medtronic in the 4th quarter valued at about $1,413,000. Townsquare Capital LLC lifted its holdings in Medtronic by 3.2% during the 4th quarter. Townsquare Capital LLC now owns 373,264 shares of the medical technology company's stock worth $29,816,000 after purchasing an additional 11,449 shares during the last quarter. Crux Wealth Advisors bought a new stake in shares of Medtronic in the fourth quarter valued at about $1,025,000. Finally, Manhattan West Asset Management LLC grew its position in shares of Medtronic by 11.9% during the 4th quarter. Manhattan West Asset Management LLC now owns 26,930 shares of the medical technology company's stock worth $2,151,000 after purchasing an additional 2,863 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company's stock.

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Analyst Ratings Changes

Several research firms have recently issued reports on MDT. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and increased their target price for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Royal Bank of Canada restated an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Truist Financial decreased their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday. Robert W. Baird increased their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $96.14.

Medtronic Stock Down 2.3 %

Shares of NYSE MDT traded down $1.96 during trading on Tuesday, hitting $82.26. The stock had a trading volume of 5,524,849 shares, compared to its average volume of 6,672,760. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm has a fifty day moving average of $89.56 and a two-hundred day moving average of $87.60. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a market capitalization of $105.51 billion, a PE ratio of 25.00, a PEG ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. As a group, equities research analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.40%. Medtronic's dividend payout ratio (DPR) is currently 85.11%.

Medtronic 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.