Kirtland Hills Capital Management LLC Has $207,000 Holdings in Medtronic plc (NYSE:MDT)

Kirtland Hills Capital Management LLC cut its holdings in shares of Medtronic plc (NYSE:MDT) by 15.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its stake in shares of Medtronic by 1.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 58,474 shares of the medical technology company’s stock valued at $5,264,000 after acquiring an additional 1,034 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Medtronic by 19.8% in 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 purchasing an additional 13,952 shares in the last quarter. Modera Wealth Management LLC boosted its position in shares of Medtronic by 23.2% during the third quarter. Modera Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock worth $290,000 after purchasing an additional 606 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Medtronic by 41.3% in the 3rd 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 stake in Medtronic by 17.7% during the 3rd quarter. Autumn Glory Partners LLC now owns 36,909 shares of the medical technology company’s stock worth $3,325,000 after buying an additional 5,552 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. UBS Group raised their price target on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Truist Financial cut their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Finally, Robert W. Baird upped their price objective 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $95.00.

Medtronic Price Performance

Shares of Medtronic stock opened at $90.57 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $116.13 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The company has a 50-day simple moving average of $86.44 and a two-hundred day simple moving average of $87.30.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.09%. Medtronic’s payout ratio is 85.11%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total value 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. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.