Medtronic plc (NYSE:MDT) Shares Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lifted its position in Medtronic plc (NYSE:MDT - Free Report) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 609,701 shares of the medical technology company's stock after purchasing an additional 8,317 shares during the period. Public Employees Retirement System of Ohio's holdings in Medtronic were worth $48,703,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Olstein Capital Management L.P. lifted its holdings in shares of Medtronic by 8.0% in the 4th quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company's stock worth $7,509,000 after buying an additional 7,000 shares during the period. Empowered Funds LLC raised its holdings in shares of Medtronic by 2.7% in the fourth quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company's stock valued at $8,453,000 after acquiring an additional 2,778 shares in the last quarter. Caprock Group LLC raised its holdings in shares of Medtronic by 12.6% in the fourth quarter. Caprock Group LLC now owns 47,767 shares of the medical technology company's stock valued at $3,849,000 after acquiring an additional 5,363 shares in the last quarter. Synergy Asset Management LLC lifted its stake in Medtronic by 107.1% in the fourth quarter. Synergy Asset Management LLC now owns 227,802 shares of the medical technology company's stock worth $19,353,000 after acquiring an additional 117,809 shares during the period. Finally, Equitable Trust Co. grew its holdings in Medtronic by 91.7% during the 4th quarter. Equitable Trust Co. now owns 39,645 shares of the medical technology company's stock worth $3,167,000 after acquiring an additional 18,968 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MDT. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a report on Saturday. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Monday, May 19th. Royal Bank of Canada lowered their target price on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Finally, Robert W. Baird cut their price target on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Medtronic has an average rating of "Hold" and an average price target of $96.07.

Medtronic Stock Up 0.6%

Shares of MDT stock traded up $0.47 during trading hours on Wednesday, reaching $81.65. 3,074,803 shares of the company's stock were exchanged, compared to its average volume of 6,803,829. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The stock's 50 day moving average is $84.64 and its 200-day moving average is $86.31. 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 market cap of $104.72 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.04. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same period in the previous year, the business earned $1.46 EPS. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. Analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.71 per share. This is a positive change from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.48%. Medtronic's payout ratio is presently 78.45%.

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.