Medtronic plc (NYSE:MDT) Stock Position Raised by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina grew its holdings in Medtronic plc (NYSE:MDT - Free Report) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 721,208 shares of the medical technology company's stock after buying an additional 7,797 shares during the period. Treasurer of the State of North Carolina owned 0.06% of Medtronic worth $57,610,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of MDT. MONECO Advisors LLC boosted its position in Medtronic by 1.8% in the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after buying an additional 115 shares during the last quarter. OLD Second National Bank of Aurora lifted its stake in shares of Medtronic by 0.3% in the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock worth $2,900,000 after acquiring an additional 121 shares in the last quarter. McKinley Carter Wealth Services Inc. boosted its holdings in Medtronic by 0.7% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock valued at $1,572,000 after purchasing an additional 129 shares during the last quarter. Faithward Advisors LLC grew its stake in Medtronic by 2.7% during the 4th quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock valued at $403,000 after purchasing an additional 134 shares in the last quarter. Finally, Vestor Capital LLC increased its holdings in Medtronic by 0.3% during the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock worth $4,104,000 after purchasing an additional 138 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares of the company's stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and upped their target price for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. UBS Group lifted their target price on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Truist Financial reduced their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday. Finally, Robert W. Baird boosted their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Medtronic has an average rating of "Hold" and an average target price of $96.14.

Medtronic Stock Performance

Shares of NYSE:MDT traded up $0.77 during trading hours on Monday, hitting $83.67. The stock had a trading volume of 1,927,106 shares, compared to its average volume of 6,665,121. The stock's fifty day simple moving average is $89.71 and its 200 day simple moving average is $87.63. The firm has a market capitalization of $107.31 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 2.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.35%. The ex-dividend date was Friday, March 28th. Medtronic's payout ratio is currently 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.