Koss Olinger Consulting LLC Has $1.85 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Koss Olinger Consulting LLC cut its stake in shares of Medtronic plc (NYSE:MDT) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,592 shares of the medical technology company’s stock after selling 1,282 shares during the period. Koss Olinger Consulting LLC’s holdings in Medtronic were worth $1,854,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Chemung Canal Trust Co. raised its stake in Medtronic by 1,467.5% in the first quarter. Chemung Canal Trust Co. now owns 47,902 shares of the medical technology company’s stock valued at $4,175,000 after buying an additional 44,846 shares during the period. Manning & Napier Advisors LLC bought a new stake in Medtronic in the second quarter valued at approximately $25,643,000. SageView Advisory Group LLC raised its stake in Medtronic by 130.3% in the first quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock valued at $1,467,000 after buying an additional 9,523 shares during the period. Daiwa Securities Group Inc. raised its stake in Medtronic by 10.0% in the first quarter. Daiwa Securities Group Inc. now owns 135,268 shares of the medical technology company’s stock valued at $11,789,000 after buying an additional 12,250 shares during the period. Finally, Burns J W & Co. Inc. NY raised its stake in Medtronic by 17.4% in the first quarter. Burns J W & Co. Inc. NY now owns 3,276 shares of the medical technology company’s stock valued at $286,000 after buying an additional 486 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 2.7 %

Shares of MDT stock opened at $92.24 on Monday. The stock’s fifty day moving average price is $88.45 and its two-hundred day moving average price is $83.58. The company has a market cap of $118.28 billion, a PE ratio of 33.54, a P/E/G ratio of 2.53 and a beta of 0.84. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.25. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 EPS. Equities analysts predict that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio is presently 101.82%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company increased their target price on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and increased their target price for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Piper Sandler increased their target price on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Finally, Daiwa America upgraded Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.36.

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.