Medtronic plc (NYSE:MDT) Shares Bought by Choreo LLC

Choreo LLC raised its position in Medtronic plc (NYSE:MDTFree Report) by 2.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 14,834 shares of the medical technology company’s stock after buying an additional 386 shares during the quarter. Choreo LLC’s holdings in Medtronic were worth $1,293,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MDT. Fortitude Family Office LLC acquired a new position in shares of Medtronic during the 4th quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. grew its stake in Medtronic by 293.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock valued at $26,000 after acquiring an additional 236,064 shares during the last quarter. MeadowBrook Investment Advisors LLC acquired a new stake in Medtronic in the 4th quarter valued at about $27,000. LifeSteps Financial Inc. purchased a new position in Medtronic in the 1st quarter valued at about $27,000. Finally, Financial Gravity Asset Management Inc. lifted its holdings in Medtronic by 317.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 279 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the transaction, the chief executive officer now directly owns 143,348 shares in the company, valued at $12,008,261.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Medtronic in a report on Thursday, May 30th. They issued a “sell” rating and a $83.00 target price on the stock. Truist Financial cut their price objective on shares of Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a report on Friday, May 24th. Wells Fargo & Company increased their target price on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Friday, May 24th. Finally, UBS Group increased their target price on shares of Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research report on Friday, May 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $91.70.

Check Out Our Latest Analysis on Medtronic

Medtronic Stock Performance

MDT traded down $0.18 during trading hours on Monday, hitting $77.43. 444,958 shares of the stock were exchanged, compared to its average volume of 6,258,015. The stock has a 50-day simple moving average of $81.56 and a 200-day simple moving average of $83.35. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $91.00. The stock has a market cap of $99.29 billion, a price-to-earnings ratio of 28.22, a price-to-earnings-growth ratio of 2.26 and a beta of 0.82. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 1.55.

Medtronic (NYSE:MDTGet Free Report) last announced its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.01. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The firm had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period last year, the business posted $1.57 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. Analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, June 28th. This is a boost from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 annualized dividend and a yield of 3.62%. Medtronic’s dividend payout ratio (DPR) is 101.82%.

Medtronic Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc (NYSE:MDTFree Report).

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.