Medtronic plc (NYSE:MDT) Shares Sold by Kirtland Hills Capital Management LLC

Kirtland Hills Capital Management LLC trimmed its stake in shares of Medtronic plc (NYSE:MDT) by 15.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,597 shares of the medical technology company’s stock after selling 480 shares during the period. Kirtland Hills Capital Management LLC’s holdings in Medtronic were worth $207,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. raised its position in Medtronic by 1.8% during the third quarter. Assenagon Asset Management S.A. now owns 58,474 shares of the medical technology company’s stock valued at $5,264,000 after buying an additional 1,034 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Medtronic by 19.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 84,497 shares of the medical technology company’s stock valued at $7,547,000 after buying an additional 13,952 shares during the period. Modera Wealth Management LLC raised its position in Medtronic by 23.2% during the third quarter. Modera Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock valued at $290,000 after buying an additional 606 shares during the period. Nisa Investment Advisors LLC raised its position in Medtronic by 41.3% during the third quarter. Nisa Investment Advisors LLC now owns 470,525 shares of the medical technology company’s stock valued at $42,670,000 after buying an additional 137,429 shares during the period. Finally, Autumn Glory Partners LLC raised its position in Medtronic by 17.7% during the third quarter. Autumn Glory Partners LLC now owns 36,909 shares of the medical technology company’s stock valued at $3,325,000 after buying an additional 5,552 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

Medtronic Stock Up 0.4 %

Shares of MDT opened at $90.57 on Wednesday. The company has a 50-day simple moving average of $86.44 and a 200-day simple moving average of $87.30. The firm has a market capitalization of $116.13 billion, a P/E ratio of 27.53, a P/E/G ratio of 2.22 and a beta of 0.84. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 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 business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. On average, equities research analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MDT shares. Barclays upped their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group upped their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Sanford C. Bernstein upped their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Robert W. Baird upped 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $95.00.

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.