Caisse Des Depots ET Consignations Acquires Shares of 61,016 Medtronic plc (NYSE:MDT)

Caisse Des Depots ET Consignations acquired a new stake in Medtronic plc (NYSE:MDT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 61,016 shares of the medical technology company's stock, valued at approximately $4,874,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Copley Financial Group Inc. bought a new stake in shares of Medtronic during the 3rd quarter valued at $694,000. Franklin Street Advisors Inc. NC lifted its stake in Medtronic by 32.6% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock valued at $5,873,000 after buying an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in Medtronic by 322.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company's stock worth $6,626,000 after buying an additional 56,178 shares during the last quarter. Olstein Capital Management L.P. grew its position in shares of Medtronic by 8.0% during the 4th quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company's stock worth $7,509,000 after buying an additional 7,000 shares during the period. Finally, Czech National Bank increased its stake in shares of Medtronic by 6.4% in the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock valued at $22,212,000 after acquiring an additional 16,786 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Down 1.5 %

Shares of MDT stock traded down $1.36 during trading on Friday, reaching $87.62. The company's stock had a trading volume of 6,320,123 shares, compared to its average volume of 6,561,213. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The business has a fifty day moving average price of $90.98 and a 200-day moving average price of $88.01. The company has a market cap of $112.38 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

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Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio (DPR) is 85.11%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Truist Financial reduced their price target on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada restated an "outperform" rating and issued a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Robert W. Baird boosted their target price on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Medtronic presently has an average rating of "Hold" and an average price target of $96.07.

Insider Transactions at Medtronic

In other 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 transaction of $792,038.50. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. Company 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.