Kiltearn Partners LLP Sells 31,900 Shares of Medtronic plc (NYSE:MDT)

Kiltearn Partners LLP decreased its stake in shares of Medtronic plc (NYSE:MDT) by 8.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 327,861 shares of the medical technology company’s stock after selling 31,900 shares during the quarter. Medtronic makes up 4.0% of Kiltearn Partners LLP’s portfolio, making the stock its 11th largest position. Kiltearn Partners LLP’s holdings in Medtronic were worth $29,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Hardy Reed LLC raised its stake in shares of Medtronic by 4.4% during the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after acquiring an additional 116 shares in the last quarter. Townsquare Capital LLC increased its holdings in Medtronic by 4.1% during the 3rd quarter. Townsquare Capital LLC now owns 361,815 shares of the medical technology company’s stock worth $32,574,000 after purchasing an additional 14,235 shares during the period. Cadence Bank raised its position in Medtronic by 2.3% during the 3rd quarter. Cadence Bank now owns 74,437 shares of the medical technology company’s stock valued at $6,702,000 after purchasing an additional 1,674 shares in the last quarter. Transamerica Financial Advisors Inc. lifted its holdings in shares of Medtronic by 12.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 7,586 shares of the medical technology company’s stock worth $683,000 after buying an additional 815 shares during the period. Finally, Shum Financial Group Inc. bought a new position in shares of Medtronic during the 3rd quarter worth $971,000. 82.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on MDT shares. Oppenheimer upped their price objective on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Evercore ISI boosted their price objective on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Stifel Nicolaus increased their target price on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Finally, Truist Financial boosted their price target on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Medtronic has an average rating of “Hold” and a consensus target price of $95.27.

Medtronic Stock Down 0.1 %

MDT stock opened at $85.67 on Wednesday. The stock has a market capitalization of $109.87 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 2.43 and a beta of 0.84. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $88.85 and a 200 day moving average of $84.95.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

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.