Kanawha Capital Management LLC Reduces Holdings in Medtronic plc (NYSE:MDT)

Kanawha Capital Management LLC reduced its stake in Medtronic plc (NYSE:MDT) by 3.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 115,183 shares of the medical technology company’s stock after selling 4,035 shares during the period. Kanawha Capital Management LLC’s holdings in Medtronic were worth $9,201,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Medtronic by 436.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock valued at $661,125,000 after purchasing an additional 5,975,110 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Medtronic by 2,043.4% in the 4th quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock valued at $207,540,000 after purchasing an additional 2,476,935 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Medtronic by 65.0% in the 3rd quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock valued at $406,122,000 after purchasing an additional 1,790,483 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Medtronic by 58.4% during the 3rd quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock worth $346,705,000 after acquiring an additional 1,420,263 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Medtronic by 8,908.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock worth $116,896,000 after acquiring an additional 1,284,002 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Up 1.0 %

Shares of MDT stock opened at $92.27 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $85.16 and its two-hundred day moving average is $86.68. The company has a market capitalization of $118.32 billion, a P/E ratio of 28.22, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. Equities analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.03%. Medtronic’s dividend payout ratio is presently 85.63%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Sanford C. Bernstein increased their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Robert W. Baird reduced their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Wells Fargo & Company reduced their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. JPMorgan Chase & Co. reduced their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, Barclays increased their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $95.00.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

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.