Fisher Asset Management LLC Lowers Stake in Medtronic PLC $MDT

Fisher Asset Management LLC lessened its holdings in Medtronic PLC (NYSE:MDT) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 225,001 shares of the medical technology company’s stock after selling 14,528 shares during the quarter. Fisher Asset Management LLC’s holdings in Medtronic were worth $21,614,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Artisan Partners Limited Partnership raised its holdings in Medtronic by 2.6% in the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock worth $117,579,000 after buying an additional 31,314 shares during the last quarter. CSM Advisors LLC grew its holdings in shares of Medtronic by 13.2% during the third 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 during the last quarter. SageView Advisory Group LLC increased its position in shares of Medtronic by 164.8% during the third quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock valued at $2,305,000 after acquiring an additional 15,062 shares in the last quarter. UMB Bank n.a. raised its holdings in Medtronic by 65.8% in the 3rd quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock worth $13,170,000 after acquiring an additional 54,898 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its position in Medtronic by 17.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 87,313 shares of the medical technology company’s stock valued at $8,316,000 after acquiring an additional 13,177 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Down 1.3%

Medtronic stock opened at $77.60 on Wednesday. Medtronic PLC has a one year low of $74.40 and a one year high of $106.33. The stock has a fifty day moving average of $83.13 and a 200 day moving average of $93.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The stock has a market cap of $99.63 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 1.87 and a beta of 0.62.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Friday, March 27th. Medtronic’s dividend payout ratio is 79.11%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Jefferies Financial Group reiterated a “hold” rating and set a $95.00 target price on shares of Medtronic in a research note on Thursday, April 23rd. Argus dropped their price objective on Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Piper Sandler decreased their target price on Medtronic from $105.00 to $91.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Finally, Mizuho dropped their price target on shares of Medtronic from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $106.45.

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).