California Public Employees Retirement System increased its position in shares of Medtronic plc. (NYSE:MDT) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,388,459 shares of the medical technology company’s stock after buying an additional 36,432 shares during the period. California Public Employees Retirement System owned 0.25% of Medtronic worth $273,618,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BDO Wealth Advisors LLC bought a new stake in Medtronic in the 2nd quarter valued at $103,000. Motco boosted its holdings in Medtronic by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after purchasing an additional 99 shares during the period. Quadrant Capital Group LLC boosted its holdings in Medtronic by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after purchasing an additional 290 shares during the period. Blue Chip Partners Inc. bought a new stake in Medtronic in the 3rd quarter valued at $118,000. Finally, Westwood Holdings Group Inc. bought a new stake in Medtronic in the 2nd quarter valued at $151,000. 81.97% of the stock is owned by institutional investors and hedge funds.
MDT has been the subject of a number of research reports. SunTrust Banks reissued a “buy” rating and issued a $96.00 price target on shares of Medtronic in a report on Friday, November 3rd. Bank of America raised shares of Medtronic from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Argus raised shares of Medtronic from a “hold” rating to a “buy” rating and increased their price target for the company from $81.27 to $95.00 in a report on Tuesday, December 12th. They noted that the move was a valuation call. Oppenheimer reissued a “buy” rating on shares of Medtronic in a report on Thursday, December 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $94.00 price objective on shares of Medtronic in a report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $90.10.
Medtronic plc. (NYSE MDT) opened at $79.48 on Friday. The company has a market cap of $107,580.00, a PE ratio of 21.84, a PEG ratio of 2.16 and a beta of 0.93. Medtronic plc. has a 1-year low of $75.71 and a 1-year high of $89.72. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50.
Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The company had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the firm earned $1.12 EPS. research analysts anticipate that Medtronic plc. will post 4.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, December 29th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Thursday, December 28th. Medtronic’s dividend payout ratio (DPR) is currently 50.55%.
In related news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard Kuntz sold 78,526 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the sale, the vice president now owns 149,761 shares of the company’s stock, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. Insiders have sold a total of 136,684 shares of company stock valued at $11,582,596 in the last quarter. 0.31% of the stock is currently owned by corporate insiders.
Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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