Knights of Columbus Asset Advisors LLC Lowers Stock Holdings in Medtronic plc (NYSE:MDT)

Knights of Columbus Asset Advisors LLC cut its stake in shares of Medtronic plc (NYSE:MDT) by 53.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,066 shares of the medical technology company’s stock after selling 2,346 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Medtronic were worth $165,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Mainstream Capital Management LLC acquired a new position in shares of Medtronic during the 4th quarter valued at $26,000. Stephens Consulting LLC lifted its holdings in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 294 shares in the last quarter. J. Stern & Co. LLP acquired a new position in shares of Medtronic during the 3rd quarter valued at $30,000. Finally, Fiduciary Advisors Inc. acquired a new position in Medtronic in the 4th quarter worth $36,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

Medtronic Price Performance

Shares of NYSE:MDT opened at $90.37 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The firm has a 50-day simple moving average of $90.67 and a 200 day simple moving average of $88.07. The company has a market cap of $115.90 billion, a PE ratio of 27.47, a P/E/G ratio of 2.22 and a beta of 0.80.

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

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio is presently 85.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. 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 report on Wednesday, December 18th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Barclays boosted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Robert W. Baird boosted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Medtronic has an average rating of “Hold” and an average target price of $96.07.

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.