Charter Oak Capital Management LLC Sells 736 Shares of Medtronic plc (NYSE:MDT)

Charter Oak Capital Management LLC lessened its holdings in shares of Medtronic plc (NYSE:MDT) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,897 shares of the medical technology company’s stock after selling 736 shares during the period. Charter Oak Capital Management LLC’s holdings in Medtronic were worth $1,430,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MDT. Cascade Investment Advisors Inc. increased its holdings in Medtronic by 0.6% during the 4th quarter. Cascade Investment Advisors Inc. now owns 22,024 shares of the medical technology company’s stock worth $1,759,000 after purchasing an additional 140 shares in the last quarter. Greenup Street Wealth Management LLC boosted its position in shares of Medtronic by 5.5% during the fourth quarter. Greenup Street Wealth Management LLC now owns 28,886 shares of the medical technology company’s stock worth $2,307,000 after buying an additional 1,502 shares during the period. Nilsine Partners LLC acquired a new stake in Medtronic in the 4th quarter valued at approximately $240,000. Foundations Investment Advisors LLC raised its position in Medtronic by 6.6% in the 4th quarter. Foundations Investment Advisors LLC now owns 15,225 shares of the medical technology company’s stock valued at $1,216,000 after buying an additional 944 shares during the last quarter. Finally, Parsons Capital Management Inc. RI lifted its stake in Medtronic by 3.3% in the 4th quarter. Parsons Capital Management Inc. RI now owns 28,842 shares of the medical technology company’s stock valued at $2,304,000 after acquiring an additional 922 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MDT. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Evercore ISI upped their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Robert W. Baird decreased their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and a consensus target price of $95.00.

Medtronic Price Performance

Medtronic stock opened at $92.45 on Tuesday. The company has a market capitalization of $118.54 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 2.49 and a beta of 0.83. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The stock’s 50 day moving average is $83.75 and its 200-day moving average is $85.62.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $8.27 billion. During the same period 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. Equities research analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is 85.63%.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

About Medtronic

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.