Medtronic plc (NYSE:MDT) Shares Sold by Kiltearn Partners LLP

Kiltearn Partners LLP lowered its stake in Medtronic plc (NYSE:MDT - Free Report) by 9.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 296,261 shares of the medical technology company's stock after selling 31,600 shares during the period. Medtronic accounts for approximately 3.9% of Kiltearn Partners LLP's holdings, making the stock its 8th biggest holding. Kiltearn Partners LLP's holdings in Medtronic were worth $23,665,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Guardian Wealth Management Inc. increased its stake in shares of Medtronic by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company's stock valued at $1,182,000 after buying an additional 115 shares in the last quarter. MONECO Advisors LLC grew its holdings in 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 acquiring an additional 115 shares during the last quarter. OLD Second National Bank of Aurora increased its position in 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 in the last quarter. McKinley Carter Wealth Services Inc. raised its stake in shares of Medtronic by 0.7% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock worth $1,572,000 after acquiring an additional 129 shares during the last quarter. Finally, Vestor Capital LLC lifted its position in shares of Medtronic by 0.3% during the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock worth $4,104,000 after purchasing an additional 138 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

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Medtronic Stock Up 1.7 %

NYSE MDT traded up $1.47 on Monday, reaching $89.10. The company had a trading volume of 1,949,800 shares, compared to its average volume of 7,637,151. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The firm has a market capitalization of $114.27 billion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company's fifty day moving average is $90.98 and its 200-day moving average is $87.99. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. On average, research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.14%. Medtronic's dividend payout ratio is 85.11%.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MDT. Robert W. Baird boosted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and raised their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, UBS Group upped their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have given 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.com, the stock presently has a consensus rating of "Hold" and an average price target of $96.07.

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.