California Public Employees Retirement System decreased its position in shares of Medtronic PLC (NYSE:MDT) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,156,279 shares of the medical technology company’s stock after selling 73,700 shares during the period. California Public Employees Retirement System owned about 0.23% of Medtronic PLC worth $254,270,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in MDT. Baystate Wealth Management LLC raised its stake in Medtronic PLC by 40.9% in the first quarter. Baystate Wealth Management LLC now owns 1,959 shares of the medical technology company’s stock valued at $157,000 after buying an additional 569 shares during the last quarter. North Star Investment Management Corp. raised its stake in Medtronic PLC by 4.4% in the first quarter. North Star Investment Management Corp. now owns 1,973 shares of the medical technology company’s stock valued at $159,000 after buying an additional 83 shares during the last quarter. Hudock Capital Group LLC raised its stake in Medtronic PLC by 0.6% in the first quarter. Hudock Capital Group LLC now owns 2,184 shares of the medical technology company’s stock valued at $175,000 after buying an additional 12 shares during the last quarter. Johnson Financial Group LLC purchased a new stake in Medtronic PLC during the first quarter valued at about $204,000. Finally, Patten & Patten Inc. TN purchased a new stake in Medtronic PLC during the first quarter valued at about $206,000. Institutional investors and hedge funds own 83.54% of the company’s stock.
Medtronic PLC (MDT) traded down 0.31% during midday trading on Friday, reaching $83.41. 4,440,985 shares of the company’s stock traded hands. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The stock’s 50 day moving average price is $85.48 and its 200-day moving average price is $83.22. The stock has a market cap of $113.36 billion, a PE ratio of 28.86 and a beta of 1.02.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.02. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The firm had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.86 billion. During the same period in the previous year, the firm earned $1.27 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. Equities analysts predict that Medtronic PLC will post $4.80 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were given a dividend of $0.46 per share. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Wednesday, July 5th. Medtronic PLC’s payout ratio is presently 63.67%.
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MDT has been the subject of several recent analyst reports. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Medtronic PLC in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $87.00 target price for the company. Zacks Investment Research lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $93.00 target price (up previously from $87.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price (up previously from $91.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. Finally, CIBC reiterated a “buy” rating on shares of Medtronic PLC in a research note on Friday, May 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $89.84.
In related news, EVP Bryan C. Hanson sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $88.57, for a total value of $1,062,840.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard H. Anderson purchased 5,600 shares of the stock in a transaction that occurred on Wednesday, June 21st. The stock was acquired at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the acquisition, the director now owns 71,910 shares in the company, valued at approximately $6,392,799. The disclosure for this purchase can be found here. 0.25% of the stock is owned by insiders.
About Medtronic PLC
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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