Medtronic plc (NYSE:MDT) Shares Sold by Coho Partners Ltd.

Coho Partners Ltd. reduced its position in shares of Medtronic plc (NYSE:MDT) by 17.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 850,070 shares of the medical technology company’s stock after selling 185,045 shares during the quarter. Medtronic makes up 3.1% of Coho Partners Ltd.’s portfolio, making the stock its 17th biggest holding. Coho Partners Ltd.’s holdings in Medtronic were worth $67,904,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new position in Medtronic during the third quarter worth about $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic during the third quarter worth about $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic during the third quarter worth about $27,000. J. Stern & Co. LLP purchased a new position in Medtronic during the third quarter worth about $30,000. Finally, Stephens Consulting LLC boosted its stake in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $92.27 on Friday. 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 stock has a market capitalization of $118.32 billion, a P/E ratio of 28.22, a P/E/G ratio of 2.57 and a beta of 0.84. The company’s fifty day moving average is $85.16 and its two-hundred day moving average is $86.68. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08.

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

Medtronic Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Truist Financial lowered their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday. Sanford C. Bernstein raised their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Barclays raised their price objective 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. Finally, Robert W. Baird lowered their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus target price of $95.00.

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.