Caisse DE Depot ET Placement DU Quebec Acquires 99,033 Shares of Medtronic plc (NYSE:MDT)

Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,216,971 shares of the medical technology company's stock after buying an additional 99,033 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.17% of Medtronic worth $177,092,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Copley Financial Group Inc. bought a new stake in shares of Medtronic in the 3rd quarter worth approximately $694,000. Franklin Street Advisors Inc. NC increased its position 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 worth $5,873,000 after buying an additional 18,057 shares during the last quarter. Olstein Capital Management L.P. raised its stake in shares of Medtronic by 8.0% in the fourth quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company's stock valued at $7,509,000 after buying an additional 7,000 shares during the period. Czech National Bank lifted its position in shares of Medtronic by 6.4% during the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock valued at $22,212,000 after buying an additional 16,786 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Medtronic by 2.7% during the 4th quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company's stock worth $8,453,000 after acquiring an additional 2,778 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

Shares of MDT traded down $0.89 during trading hours on Tuesday, reaching $82.56. 2,714,792 shares of the company's stock traded hands, compared to its average volume of 7,521,895. 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 firm's 50 day simple moving average is $87.51 and its 200-day simple moving average is $86.99. The stock has a market cap of $105.89 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25.

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

Medtronic Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MDT shares. UBS Group boosted their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and upped their price target for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. 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 report on Friday, April 11th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $96.14.

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.