Kiltearn Partners LLP Reduces Holdings in Medtronic plc (NYSE:MDT)

Kiltearn Partners LLP lowered its stake in shares of Medtronic plc (NYSE:MDT) by 8.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 327,861 shares of the medical technology company’s stock after selling 31,900 shares during the quarter. Medtronic comprises 4.0% of Kiltearn Partners LLP’s portfolio, making the stock its 11th largest position. Kiltearn Partners LLP’s holdings in Medtronic were worth $29,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. increased its position in Medtronic by 27.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 40,468 shares of the medical technology company’s stock valued at $3,527,000 after buying an additional 8,792 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Medtronic by 7.7% in the first quarter. Tidal Investments LLC now owns 72,529 shares of the medical technology company’s stock worth $6,320,000 after buying an additional 5,201 shares in the last quarter. Jaffetilchin Investment Partners LLC raised its stake in shares of Medtronic by 37.0% in the first quarter. Jaffetilchin Investment Partners LLC now owns 11,318 shares of the medical technology company’s stock worth $986,000 after purchasing an additional 3,056 shares during the last quarter. iA Global Asset Management Inc. purchased a new position in Medtronic in the 1st quarter worth about $513,000. Finally, New Covenant Trust Company N.A. bought a new position in Medtronic during the 1st quarter valued at about $117,000. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Medtronic stock opened at $85.67 on Wednesday. The company has a market cap of $109.87 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.43 and a beta of 0.84. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The firm’s fifty day moving average is $88.85 and its 200 day moving average is $84.95. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned $1.25 EPS. Sell-side analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of research analyst reports. Oppenheimer lifted their price target on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. Barclays boosted their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Stifel Nicolaus upped their price target on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Finally, Citigroup lifted their target price on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic has a consensus rating of “Hold” and a consensus price target of $95.27.

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.