Choreo LLC Has $3.99 Million Holdings in Medtronic plc (NYSE:MDT)

Choreo LLC grew its position in shares of Medtronic plc (NYSE:MDT) by 9.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,817 shares of the medical technology company’s stock after buying an additional 4,799 shares during the quarter. Choreo LLC’s holdings in Medtronic were worth $3,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Money Concepts Capital Corp raised its position in Medtronic by 3.6% during the fourth quarter. Money Concepts Capital Corp now owns 24,765 shares of the medical technology company’s stock valued at $1,978,000 after acquiring an additional 867 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Medtronic by 65.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 140,049 shares of the medical technology company’s stock worth $11,273,000 after purchasing an additional 55,552 shares during the last quarter. Virginia Wealth Management Group Inc. raised its holdings in shares of Medtronic by 1.2% during the 4th quarter. Virginia Wealth Management Group Inc. now owns 30,073 shares of the medical technology company’s stock valued at $2,402,000 after purchasing an additional 354 shares in the last quarter. Y.D. More Investments Ltd lifted its stake in shares of Medtronic by 19.5% in the 4th quarter. Y.D. More Investments Ltd now owns 1,449 shares of the medical technology company’s stock valued at $116,000 after purchasing an additional 236 shares during the last quarter. Finally, Sargent Investment Group LLC bought a new stake in Medtronic in the fourth quarter worth $453,000. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were 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 directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Medtronic Stock Up 0.7 %

Shares of MDT opened at $91.62 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The company has a 50-day simple moving average of $84.58 and a 200-day simple moving average of $86.24. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. The firm has a market capitalization of $117.48 billion, a P/E ratio of 28.02, a P/E/G ratio of 2.57 and a beta of 0.84.

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. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities research analysts expect that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.06%. Medtronic’s dividend payout ratio is currently 85.63%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Robert W. Baird cut their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Truist Financial cut their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Sanford C. Bernstein lifted their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company decreased their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus target price of $95.00.

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.