CORDA Investment Management LLC. Has $19.91 Million Stock Holdings in Medtronic plc (NYSE:MDT)

CORDA Investment Management LLC. increased its position in Medtronic plc (NYSE:MDT) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 249,271 shares of the medical technology company’s stock after buying an additional 7,386 shares during the quarter. CORDA Investment Management LLC.’s holdings in Medtronic were worth $19,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in MDT. Linscomb Wealth Inc. increased its position in Medtronic by 1.9% in the 4th quarter. Linscomb Wealth Inc. now owns 67,095 shares of the medical technology company’s stock valued at $5,360,000 after acquiring an additional 1,266 shares during the period. QRG Capital Management Inc. grew its stake in shares of Medtronic by 5.5% in the fourth quarter. QRG Capital Management Inc. now owns 419,762 shares of the medical technology company’s stock worth $33,531,000 after purchasing an additional 21,697 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Medtronic in the fourth quarter valued at $13,132,000. Kovack Advisors Inc. raised its position in Medtronic by 9.5% during the 4th quarter. Kovack Advisors Inc. now owns 8,550 shares of the medical technology company’s stock worth $683,000 after purchasing an additional 741 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its holdings in Medtronic by 2.3% during the 4th quarter. New York Life Investment Management LLC now owns 178,642 shares of the medical technology company’s stock worth $14,270,000 after buying an additional 4,015 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of Medtronic stock opened at $90.67 on Friday. The business has a 50-day simple moving average of $86.86 and a 200 day simple moving average of $87.35. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm has a market capitalization of $116.26 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. On average, research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.09%. Medtronic’s payout ratio is 85.11%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MDT. Wells Fargo & Company decreased their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird boosted their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Finally, UBS Group boosted their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus price target of $95.00.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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.