Medtronic plc (NYSE:MDT) Shares Sold by KLCM Advisors Inc.

KLCM Advisors Inc. reduced its stake in shares of Medtronic plc (NYSE:MDT) by 4.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 133,644 shares of the medical technology company’s stock after selling 6,344 shares during the quarter. Medtronic makes up about 1.2% of KLCM Advisors Inc.’s holdings, making the stock its 24th largest position. KLCM Advisors Inc.’s holdings in Medtronic were worth $10,675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new position in Medtronic in the third quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in Medtronic during the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic in the 3rd quarter worth approximately $27,000. Stephens Consulting LLC increased its holdings in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in shares of Medtronic during the 3rd quarter valued at approximately $30,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Truist Financial lowered their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Robert W. Baird cut their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Barclays lifted their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Price Performance

Shares of MDT opened at $93.02 on Monday. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The stock’s fifty day moving average is $85.51 and its 200-day moving average is $86.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The firm has a market capitalization of $119.28 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm 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%. Medtronic’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. Equities analysts anticipate that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 3.01%. Medtronic’s dividend payout ratio (DPR) is 85.63%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

About Medtronic

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.