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

Charter Oak Capital Management LLC cut its position in Medtronic plc (NYSE:MDT) by 3.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 17,897 shares of the medical technology company’s stock after selling 736 shares during the quarter. Charter Oak Capital Management LLC’s holdings in Medtronic were worth $1,430,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MDT. Fortitude Family Office LLC bought a new position in shares of Medtronic in the third quarter worth about $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic during the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new position in Medtronic in the 3rd quarter valued at approximately $27,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic during the third quarter worth $30,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Medtronic during the fourth quarter worth $40,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of MDT opened at $92.45 on Tuesday. The firm has a market cap of $118.54 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The business’s 50 day moving average price is $83.75 and its two-hundred day moving average price is $85.62. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. Medtronic’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 EPS. On average, equities analysts anticipate that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of research reports. Truist Financial reduced their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Robert W. Baird cut their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Finally, Barclays raised their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $95.00.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

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.