Forsta AP Fonden Trims Holdings in Medtronic PLC $MDT

Forsta AP Fonden trimmed its position in Medtronic PLC (NYSE:MDT) by 25.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,000 shares of the medical technology company’s stock after selling 90,200 shares during the quarter. Forsta AP Fonden’s holdings in Medtronic were worth $26,032,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Curbstone Financial Management Corp increased its holdings in Medtronic by 1.8% in the 4th quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock worth $537,000 after acquiring an additional 100 shares in the last quarter. New England Capital Financial Advisors LLC boosted its stake in Medtronic by 7.8% in the 4th quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock worth $135,000 after purchasing an additional 101 shares during the period. Baker Tilly Wealth Management LLC boosted its stake in Medtronic by 3.3% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock worth $309,000 after purchasing an additional 102 shares during the period. Maseco LLP boosted its stake in Medtronic by 32.1% in the 4th quarter. Maseco LLP now owns 444 shares of the medical technology company’s stock worth $43,000 after purchasing an additional 108 shares during the period. Finally, Holistic Financial Partners boosted its stake in Medtronic by 3.0% in the 3rd quarter. Holistic Financial Partners now owns 3,697 shares of the medical technology company’s stock worth $352,000 after purchasing an additional 109 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Argus dropped their price target on Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, April 6th. UBS Group dropped their price target on Medtronic from $104.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. Robert W. Baird upped their price target on Medtronic from $92.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Mizuho dropped their price target on Medtronic from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Finally, Truist Financial dropped their price target on Medtronic from $103.00 to $95.00 and set a “hold” rating for the company in a research note on Wednesday, April 15th. Fifteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and a consensus price target of $106.45.

Medtronic Stock Down 2.4%

NYSE MDT opened at $73.73 on Friday. The company has a market capitalization of $94.66 billion, a P/E ratio of 20.54, a P/E/G ratio of 1.76 and a beta of 0.62. The stock has a 50 day moving average price of $82.36 and a 200-day moving average price of $92.65. Medtronic PLC has a one year low of $73.67 and a one year high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were given a $0.71 dividend. The ex-dividend date was Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.9%. Medtronic’s dividend payout ratio (DPR) is currently 79.11%.

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).