KCM Investment Advisors LLC Sells 5,638 Shares of Medtronic plc (NYSE:MDT)

KCM Investment Advisors LLC decreased its holdings in Medtronic plc (NYSE:MDT) by 24.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund 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 SEC filing.

A number of other institutional investors also recently modified their holdings of MDT. Olstein Capital Management L.P. boosted its stake in shares of Medtronic by 19.2% in the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after purchasing an additional 14,000 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Medtronic during the second quarter worth $25,643,000. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Medtronic during the third quarter worth $9,486,000. National Bank of Canada FI boosted its holdings in shares of Medtronic by 13.6% during the 1st quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company’s stock valued at $21,642,000 after acquiring an additional 31,195 shares in the last quarter. Finally, Harvest Portfolios Group Inc. increased its holdings in Medtronic by 6.5% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock worth $62,042,000 after purchasing an additional 42,112 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of Medtronic stock opened at $87.53 on Friday. The company has a market cap of $112.25 billion, a PE ratio of 29.57, a price-to-earnings-growth ratio of 2.51 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. Medtronic plc has a 52 week low of $74.20 and a 52 week high of $92.68. The business has a 50 day moving average price of $89.48 and a 200-day moving average price of $84.71.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 EPS. Equities analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Citigroup boosted their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Evercore ISI raised their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Robert W. Baird upped their price target on Medtronic from $90.00 to $96.00 in a research report on Friday. Finally, Wells Fargo & Company raised their price objective on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $95.80.

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.