California State Teachers Retirement System Has $166.62 Million Stock Position in Medtronic plc (NYSE:MDT)

California State Teachers Retirement System trimmed its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mainstream Capital Management LLC bought a new position in Medtronic during the fourth quarter worth about $26,000. Stephens Consulting LLC raised its position in shares of Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after purchasing an additional 204 shares during the period. Rakuten Securities Inc. grew its position in shares of Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 294 shares during the period. Optiver Holding B.V. bought a new stake in Medtronic during the 4th quarter worth approximately $31,000. Finally, Fiduciary Advisors Inc. acquired a new stake in Medtronic during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Performance

Shares of Medtronic stock traded up $1.18 during trading on Friday, hitting $84.74. 5,727,425 shares of the stock were exchanged, compared to its average volume of 6,674,119. 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 has a fifty day moving average price of $87.65 and a 200-day moving average price of $87.09. The stock has a market capitalization of $108.68 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. 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 earnings per share (EPS) for the quarter, topping 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 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 business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.70 per share. The ex-dividend date was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.30%. Medtronic's payout ratio is 85.11%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MDT. Truist Financial lowered 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. Citigroup raised 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 note on Tuesday, March 4th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group upped their price target on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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.