Medtronic plc (NYSE:MDT) Shares Acquired by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board grew its holdings in Medtronic plc (NYSE:MDT - Free Report) by 31.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,270 shares of the medical technology company's stock after buying an additional 3,395 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Medtronic were worth $1,140,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Morse Asset Management Inc purchased a new stake in shares of Medtronic during the third quarter worth approximately $225,000. Te Ahumairangi Investment Management Ltd grew its holdings in shares of Medtronic by 4.1% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company's stock worth $4,684,000 after buying an additional 2,050 shares in the last quarter. Chelsea Counsel Co. purchased a new position in shares of Medtronic in the third quarter worth about $45,000. Tudor Financial Inc. acquired a new position in Medtronic during the third quarter worth about $586,000. Finally, Anchor Investment Management LLC grew its stake in Medtronic by 1.2% during the 3rd quarter. Anchor Investment Management LLC now owns 107,518 shares of the medical technology company's stock valued at $9,680,000 after acquiring an additional 1,271 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MDT shares. Robert W. Baird upped their price target on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Truist Financial cut their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Finally, Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Medtronic presently has a consensus rating of "Hold" and a consensus target price of $96.14.

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares of the company's stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company's stock.

Medtronic Trading Down 0.1 %

Medtronic stock traded down $0.12 during trading on Friday, hitting $82.58. The company had a trading volume of 5,937,486 shares, compared to its average volume of 6,674,143. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The company's 50 day simple moving average is $88.91 and its 200-day simple moving average is $87.42. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The stock has a market cap of $105.91 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79.

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

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.39%. Medtronic's dividend payout ratio (DPR) is 85.11%.

Medtronic Company 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.