Koss Olinger Consulting LLC Trims Stock Holdings in Medtronic plc (NYSE:MDT)

Koss Olinger Consulting LLC lessened its stake in shares of Medtronic plc (NYSE:MDT) by 13.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,759 shares of the medical technology company’s stock after selling 2,833 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Medtronic were worth $1,419,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Vinva Investment Management Ltd raised its stake in shares of Medtronic by 16.2% during the fourth quarter. Vinva Investment Management Ltd now owns 76,939 shares of the medical technology company’s stock worth $6,125,000 after purchasing an additional 10,736 shares during the last quarter. ProVise Management Group LLC raised its stake in shares of Medtronic by 2.0% during the fourth quarter. ProVise Management Group LLC now owns 125,582 shares of the medical technology company’s stock worth $10,031,000 after purchasing an additional 2,471 shares during the last quarter. Xponance Inc. raised its stake in shares of Medtronic by 3.4% during the fourth quarter. Xponance Inc. now owns 188,501 shares of the medical technology company’s stock worth $15,057,000 after purchasing an additional 6,222 shares during the last quarter. Boston Partners raised its stake in shares of Medtronic by 117.4% during the fourth quarter. Boston Partners now owns 3,102,605 shares of the medical technology company’s stock worth $248,311,000 after purchasing an additional 1,675,588 shares during the last quarter. Finally, Generali Asset Management SPA SGR purchased a new stake in shares of Medtronic during the fourth quarter worth approximately $3,109,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 1.3 %

Medtronic stock opened at $92.10 on Wednesday. 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 $118.12 billion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The stock’s fifty day moving average is $90.12 and its two-hundred day moving average is $88.02.

Medtronic (NYSE:MDT) last posted 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. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal 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 dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Friday, March 28th. Medtronic’s payout ratio is currently 85.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Sanford C. Bernstein upped their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial dropped their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Finally, Barclays upped their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $96.07.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.