KCM Investment Advisors LLC Has $1.54 Million Stock Holdings in Medtronic plc (NYSE:MDT)

KCM Investment Advisors LLC trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 24.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,111 shares of the medical technology company’s stock after selling 5,638 shares during the period. KCM Investment Advisors LLC’s holdings in Medtronic were worth $1,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MDT. Clear Harbor Asset Management LLC grew its position in Medtronic by 1.2% in the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after acquiring an additional 111 shares in the last quarter. First PREMIER Bank increased its stake in Medtronic by 1.8% during the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after acquiring an additional 116 shares during the period. Precision Wealth Strategies LLC raised its holdings in Medtronic by 3.3% in the 3rd quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock valued at $337,000 after acquiring an additional 118 shares in the last quarter. Lake Street Advisors Group LLC lifted its position in shares of Medtronic by 2.0% in the 3rd quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock worth $547,000 after acquiring an additional 118 shares during the period. Finally, Sigma Planning Corp grew its holdings in shares of Medtronic by 0.4% during the 3rd quarter. Sigma Planning Corp now owns 28,843 shares of the medical technology company’s stock worth $2,597,000 after purchasing an additional 124 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

NYSE:MDT opened at $87.53 on Friday. The firm has a fifty day simple moving average of $89.48 and a 200 day simple moving average of $84.71. Medtronic plc has a 1-year low of $74.20 and a 1-year high of $92.68. The stock has a market capitalization of $112.25 billion, a PE ratio of 29.57, a P/E/G ratio of 2.51 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last posted its quarterly 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 business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 EPS. On average, research analysts expect that Medtronic plc will post 5.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Barclays raised their target price on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Wells Fargo & Company upped their price objective on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird lifted their price target on Medtronic from $90.00 to $96.00 in a report on Friday. Citigroup upped their price objective on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Finally, Oppenheimer lifted their price objective on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have issued 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, the stock has an average rating of “Hold” and an average target price of $95.80.

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.