Medtronic PLC $MDT Shares Sold by Choreo LLC

Choreo LLC lowered its position in shares of Medtronic PLC (NYSE:MDT) by 28.5% in the second quarter, Holdings Channel reports. The institutional investor owned 42,398 shares of the medical technology company’s stock after selling 16,923 shares during the period. Choreo LLC’s holdings in Medtronic were worth $3,324,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Symphony Financial Ltd. Co. lifted its stake in shares of Medtronic by 31.8% in the 2nd quarter. Symphony Financial Ltd. Co. now owns 3,893 shares of the medical technology company’s stock worth $312,000 after acquiring an additional 939 shares during the period. Archer Investment Corp raised its holdings in Medtronic by 138.4% during the second quarter. Archer Investment Corp now owns 13,303 shares of the medical technology company’s stock worth $1,041,000 after purchasing an additional 7,724 shares in the last quarter. Qsemble Capital Management LP raised its holdings in Medtronic by 507.7% during the second quarter. Qsemble Capital Management LP now owns 32,835 shares of the medical technology company’s stock worth $2,569,000 after purchasing an additional 27,432 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in Medtronic in the second quarter valued at about $39,000. Finally, Willis Investment Counsel lifted its position in Medtronic by 5.7% in the second quarter. Willis Investment Counsel now owns 414,539 shares of the medical technology company’s stock valued at $32,429,000 after purchasing an additional 22,491 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on MDT shares. Stifel Nicolaus set a $80.00 price target on Medtronic in a report on Wednesday, June 3rd. The Goldman Sachs Group dropped their price objective on Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Evercore set a $105.00 price objective on Medtronic in a research report on Monday, July 6th. Robert W. Baird reduced their target price on Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Finally, BTIG Research restated a “buy” rating and set a $91.00 target price on shares of Medtronic in a research report on Monday, July 13th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.83.

Medtronic Price Performance

MDT stock opened at $90.44 on Tuesday. The stock’s 50 day moving average price is $83.40 and its 200 day moving average price is $86.19. The firm has a market cap of $115.77 billion, a P/E ratio of 24.25, a PEG ratio of 2.45 and a beta of 0.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33.

Medtronic (NYSE:MDT) last released its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period in the prior year, the firm earned $1.62 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, sell-side analysts expect that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were given a $0.72 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is presently 77.21%.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).