Kiltearn Partners LLP Sells 31,600 Shares of Medtronic plc (NYSE:MDT)

Kiltearn Partners LLP trimmed its stake in shares of Medtronic plc (NYSE:MDT) by 9.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 296,261 shares of the medical technology company’s stock after selling 31,600 shares during the quarter. Medtronic comprises 3.9% of Kiltearn Partners LLP’s holdings, making the stock its 8th biggest position. Kiltearn Partners LLP’s holdings in Medtronic were worth $23,665,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Mainstream Capital Management LLC acquired a new position in Medtronic during the fourth quarter worth about $26,000. Stephens Consulting LLC boosted its position in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares in the last quarter. Rakuten Securities Inc. grew its stake in shares of Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 294 shares during the last quarter. Fiduciary Advisors Inc. bought a new stake in shares of Medtronic in the 4th quarter worth approximately $36,000. Finally, Kieckhefer Group LLC acquired a new stake in Medtronic during the fourth quarter valued at approximately $40,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of NYSE MDT opened at $89.00 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The business’s 50-day moving average price is $91.00 and its two-hundred day moving average price is $88.05. The company has a market capitalization of $114.14 billion, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s payout ratio is presently 85.11%.

Insider Buying and Selling

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

Analyst Ratings Changes

MDT has been the topic of several research reports. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and upped their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Robert W. Baird boosted their target price on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Truist Financial cut their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $96.07.

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.