KCM Investment Advisors LLC Sells 2,792 Shares of Medtronic plc (NYSE:MDT)

KCM Investment Advisors LLC cut its holdings in Medtronic plc (NYSE:MDT) by 16.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 14,319 shares of the medical technology company’s stock after selling 2,792 shares during the period. KCM Investment Advisors LLC’s holdings in Medtronic were worth $1,144,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MDT. Guardian Wealth Management Inc. grew its stake in shares of Medtronic by 0.9% during the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after purchasing an additional 115 shares during the period. MONECO Advisors LLC grew its position in shares of Medtronic by 1.8% during the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock worth $512,000 after buying an additional 115 shares during the period. OLD Second National Bank of Aurora increased its stake in shares of Medtronic by 0.3% in the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company’s stock valued at $2,900,000 after acquiring an additional 121 shares during the last quarter. McKinley Carter Wealth Services Inc. raised its position in shares of Medtronic by 0.7% in the 4th quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company’s stock valued at $1,572,000 after acquiring an additional 129 shares during the period. Finally, Vestor Capital LLC boosted its stake in Medtronic by 0.3% during the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company’s stock worth $4,104,000 after acquiring an additional 138 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Down 5.7 %

NYSE:MDT opened at $82.86 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 firm’s 50 day simple moving average is $90.87 and its 200 day simple moving average is $87.93. The company has a market cap of $106.28 billion, a PE ratio of 25.19, a P/E/G ratio of 2.22 and a beta of 0.79.

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

Medtronic Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio is currently 85.11%.

Insider Activity at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction on Wednesday, January 8th. The shares were 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 directly owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MDT has been the subject of several recent analyst reports. Truist Financial lowered their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. UBS Group increased their price target on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Robert W. Baird lifted their price objective on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and a consensus target price 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.