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

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 272,691 shares of the medical technology company's stock after selling 6,519 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Medtronic were worth $21,783,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MDT. State Street Corp boosted its position in shares of Medtronic by 0.9% during the third quarter. State Street Corp now owns 60,731,367 shares of the medical technology company's stock worth $5,509,155,000 after buying an additional 520,027 shares during the period. Raymond James Financial Inc. bought a new stake in Medtronic during the 4th quarter valued at $852,732,000. First Eagle Investment Management LLC boosted its position in Medtronic by 0.3% during the 4th quarter. First Eagle Investment Management LLC now owns 9,792,200 shares of the medical technology company's stock worth $782,201,000 after acquiring an additional 28,910 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Medtronic by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,002,051 shares of the medical technology company's stock worth $639,204,000 after purchasing an additional 134,647 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Medtronic by 436.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock valued at $661,125,000 after purchasing an additional 5,975,110 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

MDT has been the subject of several research analyst reports. Truist Financial reduced their price objective on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Royal Bank of Canada reiterated an "outperform" rating and issued a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Barclays raised their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and lifted their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Medtronic currently has an average rating of "Hold" and a consensus target price of $96.07.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.20% of the company's stock.

Medtronic Trading Down 0.2 %

Shares of Medtronic stock traded down $0.17 during trading on Monday, hitting $90.16. The stock had a trading volume of 5,420,324 shares, compared to its average volume of 6,104,008. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The stock has a 50 day simple moving average of $90.67 and a 200 day simple moving average of $88.05. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $115.64 billion, a PE ratio of 27.40, a P/E/G ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share 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%. On average, research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. Medtronic's payout ratio is presently 85.11%.

Medtronic Profile

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.