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

Choreo LLC reduced its stake in Medtronic plc (NYSE:MDT) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Marino Stram & Associates LLC lifted its position in Medtronic by 1.8% in the 4th quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock valued at $587,000 after acquiring an additional 126 shares in the last quarter. Modera Wealth Management LLC lifted its position in Medtronic by 3.9% in the 3rd quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock valued at $277,000 after acquiring an additional 133 shares in the last quarter. jvl associates llc lifted its position in Medtronic by 3.8% in the 4th quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock valued at $316,000 after acquiring an additional 139 shares in the last quarter. Dfpg Investments LLC lifted its position in Medtronic by 0.3% in the 4th quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company’s stock valued at $4,413,000 after acquiring an additional 142 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co lifted its position in Medtronic by 3.3% in the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 4,653 shares of the medical technology company’s stock valued at $365,000 after acquiring an additional 150 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 0.8 %

Shares of MDT stock opened at $80.25 on Wednesday. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $92.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. The firm has a market capitalization of $106.56 billion, a PE ratio of 25.56, a PEG ratio of 2.77 and a beta of 0.76. The stock has a fifty day simple moving average of $83.35 and a two-hundred day simple moving average of $81.38.

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

Medtronic Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction 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 approximately $2,321,684.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of several analyst reports. Truist Financial upped their price objective on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 21st. Mizuho boosted their target price on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, Oppenheimer upped their price objective on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Medtronic presently has an average rating of “Hold” and an average 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.