Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Stock Holdings in Medtronic plc (NYSE:MDT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 0.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 168,414 shares of the medical technology company’s stock after selling 150 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Medtronic were worth $21,111,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDT. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Medtronic by 12.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 249,498 shares of the medical technology company’s stock valued at $30,970,000 after buying an additional 28,556 shares in the last quarter. Centaurus Financial Inc. boosted its holdings in shares of Medtronic by 9.1% in the 2nd quarter. Centaurus Financial Inc. now owns 1,595 shares of the medical technology company’s stock valued at $198,000 after buying an additional 133 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Medtronic by 2.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 129,343 shares of the medical technology company’s stock valued at $16,055,000 after buying an additional 2,774 shares in the last quarter. National Asset Management Inc. boosted its stake in Medtronic by 4.1% in the 2nd quarter. National Asset Management Inc. now owns 36,904 shares of the medical technology company’s stock worth $4,575,000 after purchasing an additional 1,446 shares in the last quarter. Finally, Inverness Counsel LLC NY acquired a new stake in Medtronic in the 2nd quarter worth approximately $225,000. 79.03% of the stock is currently owned by institutional investors and hedge funds.

NYSE MDT traded down $1.27 on Friday, hitting $107.51. The company had a trading volume of 102,943 shares, compared to its average volume of 7,863,832. Medtronic plc has a 12-month low of $98.38 and a 12-month high of $135.89. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.91 and a quick ratio of 2.36. The company’s fifty day moving average price is $110.12 and its 200-day moving average price is $121.57. The company has a market capitalization of $144.55 billion, a PE ratio of 31.35, a PEG ratio of 2.87 and a beta of 0.79.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 23rd. The medical technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.03. Medtronic had a net margin of 14.80% and a return on equity of 14.52%. The company had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.98 billion. During the same quarter in the previous year, the company posted $1.02 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that Medtronic plc will post 5.69 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 14th. Shareholders of record on Wednesday, December 22nd will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, December 21st. This represents a $2.52 annualized dividend and a yield of 2.34%. Medtronic’s dividend payout ratio (DPR) is presently 72.62%.

A number of analysts recently commented on MDT shares. Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating and set a $121.00 target price for the company in a research note on Friday, November 26th. Credit Suisse Group reduced their price target on shares of Medtronic from $146.00 to $142.00 and set an “outperform” rating for the company in a research report on Monday, December 20th. BTIG Research lowered shares of Medtronic from a “buy” rating to a “neutral” rating and set a $104.00 price target for the company. in a research report on Monday. Needham & Company LLC cut their target price on shares of Medtronic from $145.00 to $131.00 and set a “buy” rating for the company in a report on Thursday, December 16th. Finally, Truist cut their target price on shares of Medtronic from $148.00 to $142.00 and set a “buy” rating for the company in a report on Wednesday, November 24th. Nine analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of “Buy” and an average price target of $134.57.

In other Medtronic news, CFO Karen L. Parkhill sold 682 shares of Medtronic stock in a transaction on Monday, December 6th. The shares were sold at an average price of $110.00, for a total transaction of $75,020.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard H. Anderson purchased 5,010 shares of the stock in a transaction dated Thursday, December 16th. The shares were purchased at an average cost of $103.26 per share, for a total transaction of $517,332.60. The disclosure for this purchase can be found here. Insiders own 0.47% of the company’s stock.

Medtronic Profile

Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiac and Vascular Group; Minimally Invasive Technologies Group; Restorative Therapies Group; and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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