Savant Capital LLC Buys 51,985 Shares of Medtronic plc (NYSE:MDT)

Savant Capital LLC boosted its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 138.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,644 shares of the medical technology company's stock after buying an additional 51,985 shares during the period. Savant Capital LLC's holdings in Medtronic were worth $7,161,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Copley Financial Group Inc. purchased a new position in Medtronic in the third quarter worth $694,000. Olstein Capital Management L.P. raised its stake in shares of Medtronic by 19.2% during the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company's stock worth $7,833,000 after purchasing an additional 14,000 shares during the period. Franklin Street Advisors Inc. NC boosted its holdings in shares of Medtronic by 32.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock worth $5,873,000 after buying an additional 18,057 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in Medtronic by 322.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company's stock valued at $6,626,000 after buying an additional 56,178 shares during the period. Finally, Czech National Bank increased its holdings in Medtronic by 6.4% during the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock worth $22,212,000 after buying an additional 16,786 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

Shares of Medtronic stock traded up $0.34 on Tuesday, hitting $91.18. 6,534,547 shares of the company traded hands, compared to its average volume of 7,171,805. The firm's 50-day simple moving average is $84.93 and its 200 day simple moving average is $86.56. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The company has a market cap of $116.92 billion, a P/E ratio of 27.88, a P/E/G ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business's quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $1.25 earnings per share. Analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.07%. Medtronic's payout ratio is currently 85.63%.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MDT has been the subject of several research analyst reports. Truist Financial decreased their price target on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, December 18th. Barclays upped their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Wells Fargo & Company reduced their target price on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, November 20th. Sanford C. Bernstein upped their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. Finally, Robert W. Baird reduced their price objective on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $95.00.

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.