California State Teachers Retirement System Sells 18,097 Shares of Medtronic plc (NYSE:MDT)

California State Teachers Retirement System cut its holdings in Medtronic plc (NYSE:MDT - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,085,856 shares of the medical technology company's stock after selling 18,097 shares during the quarter. California State Teachers Retirement System owned 0.16% of Medtronic worth $166,618,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MDT. Mainstream Capital Management LLC bought a new stake in Medtronic in the fourth quarter valued at $26,000. Rakuten Securities Inc. raised its stake in Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after buying an additional 294 shares during the period. Stephens Consulting LLC grew its stake in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 204 shares during the period. Optiver Holding B.V. bought a new stake in shares of Medtronic during the fourth quarter valued at approximately $31,000. Finally, Fiduciary Advisors Inc. acquired a new position in shares of Medtronic during the fourth quarter worth approximately $36,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Truist Financial lowered their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Robert W. Baird upped their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. UBS Group increased their price objective on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of "Hold" and a consensus price target of $96.14.

Medtronic Stock Performance

MDT traded down $1.33 during trading on Thursday, hitting $83.43. 6,014,933 shares of the company traded hands, compared to its average volume of 6,676,563. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The stock's fifty day moving average is $87.91 and its 200 day moving average is $87.17. 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 firm has a market cap of $107.01 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79.

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

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.36%. Medtronic's payout ratio is 85.11%.

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.