KCM Investment Advisors LLC Has $1.14 Million Stock Position in Medtronic plc (NYSE:MDT)

KCM Investment Advisors LLC cut its position in Medtronic plc (NYSE:MDT) by 16.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,319 shares of the medical technology company’s stock after selling 2,792 shares during the quarter. KCM Investment Advisors LLC’s holdings in Medtronic were worth $1,144,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Copley Financial Group Inc. bought a new position in shares of Medtronic in the third quarter worth about $694,000. Franklin Street Advisors Inc. NC increased its position in Medtronic by 32.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock worth $5,873,000 after buying an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd boosted its position in shares of Medtronic by 322.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock valued at $6,626,000 after acquiring an additional 56,178 shares during the period. Olstein Capital Management L.P. grew its stake in shares of Medtronic by 8.0% in the fourth quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company’s stock worth $7,509,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Czech National Bank increased its position in Medtronic by 6.4% during the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock worth $22,212,000 after acquiring an additional 16,786 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group boosted their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Truist Financial lowered their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $96.07.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $82.86 on Friday. The stock has a market capitalization of $106.28 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The firm has a 50 day moving average of $90.87 and a 200-day moving average of $87.93.

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

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.38%. The ex-dividend date is Friday, March 28th. Medtronic’s payout ratio is presently 85.11%.

Medtronic 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.