Choreo LLC Sells 168 Shares of Medtronic plc (NYSE:MDT)

Choreo LLC trimmed its stake in shares of Medtronic plc (NYSE:MDT) by 1.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 14,448 shares of the medical technology company’s stock after selling 168 shares during the quarter. Choreo LLC’s holdings in Medtronic were worth $1,200,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MDT. Morgan Stanley raised its holdings in shares of Medtronic by 9.2% during the 3rd quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock worth $1,863,229,000 after buying an additional 1,994,123 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Medtronic by 2.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,392,467 shares of the medical technology company’s stock worth $1,597,954,000 after buying an additional 508,205 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Medtronic by 2.1% during the 3rd quarter. Northern Trust Corp now owns 13,622,933 shares of the medical technology company’s stock worth $1,067,493,000 after buying an additional 285,819 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Medtronic by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,988,289 shares of the medical technology company’s stock worth $843,979,000 after buying an additional 79,660 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Medtronic by 6.7% during the 3rd quarter. American Century Companies Inc. now owns 10,297,135 shares of the medical technology company’s stock worth $806,883,000 after buying an additional 649,367 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Down 0.8 %

Shares of NYSE:MDT opened at $80.25 on Wednesday. The firm has a market cap of $106.56 billion, a P/E ratio of 25.56, a PEG ratio of 2.77 and a beta of 0.76. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $92.02. The business’s 50 day simple moving average is $83.35 and its two-hundred day simple moving average is $81.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30.

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

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Insider Transactions at Medtronic

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on MDT. Truist Financial increased their price target on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 21st. Oppenheimer upped their target price on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Finally, Mizuho upped their target price on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.