KLCM Advisors Inc. Has $18.07 Million Position in Medtronic plc (NYSE:MDT)

KLCM Advisors Inc. grew its holdings in Medtronic plc (NYSE:MDT) by 3.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 219,285 shares of the medical technology company’s stock after acquiring an additional 7,412 shares during the quarter. Medtronic accounts for 2.8% of KLCM Advisors Inc.’s portfolio, making the stock its 9th largest holding. KLCM Advisors Inc.’s holdings in Medtronic were worth $18,065,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fairfield Bush & CO. bought a new position in Medtronic in the first quarter worth $47,000. MAS Advisors LLC lifted its holdings in shares of Medtronic by 10.3% during the first quarter. MAS Advisors LLC now owns 2,388 shares of the medical technology company’s stock valued at $266,000 after acquiring an additional 223 shares during the period. LSV Asset Management lifted its holdings in shares of Medtronic by 34.5% during the first quarter. LSV Asset Management now owns 7,400 shares of the medical technology company’s stock valued at $821,000 after acquiring an additional 1,900 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Medtronic by 22.8% during the first quarter. NewEdge Advisors LLC now owns 74,914 shares of the medical technology company’s stock valued at $8,312,000 after acquiring an additional 13,895 shares during the period. Finally, Kinneret Advisory LLC lifted its holdings in shares of Medtronic by 2.3% during the first quarter. Kinneret Advisory LLC now owns 15,340 shares of the medical technology company’s stock valued at $1,712,000 after acquiring an additional 343 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 1.2 %

MDT stock traded down $0.98 during midday trading on Wednesday, reaching $79.25. The stock had a trading volume of 7,674,490 shares, compared to its average volume of 5,758,655. The business has a fifty day simple moving average of $84.35 and a two-hundred day simple moving average of $81.02. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The firm has a market cap of $105.23 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 2.74 and a beta of 0.76. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.02.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. The firm had revenue of $8.09 billion during the quarter, compared to analyst estimates of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $1.30 earnings per share. As a group, research analysts expect that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is currently 87.90%.

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the transaction, the executive vice president now owns 48,289 shares in the company, valued at $4,110,842.57. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 21st. Truist Financial lifted their price objective on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Mizuho lifted their price objective on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Oppenheimer raised their target price on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.91.

Medtronic 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.