Teacher Retirement System of Texas reduced its stake in Medtronic PLC (NYSE:MDT - Free Report) by 60.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 533,525 shares of the medical technology company's stock after selling 815,216 shares during the period. Teacher Retirement System of Texas' holdings in Medtronic were worth $47,943,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Mainstream Capital Management LLC bought a new stake in shares of Medtronic in the 4th quarter valued at approximately $26,000. Burkett Financial Services LLC grew its position in Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after acquiring an additional 185 shares during the last quarter. Rakuten Securities Inc. grew its position 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 acquiring an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC bought a new stake in Medtronic during the 4th quarter worth approximately $27,000. Finally, Optiver Holding B.V. bought a new stake in Medtronic during the 4th quarter worth approximately $31,000. 82.06% of the stock is currently owned by institutional investors.
Medtronic Stock Performance
Shares of MDT traded up $0.22 during mid-day trading on Friday, hitting $88.50. 2,989,470 shares of the company traded hands, compared to its average volume of 6,988,170. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The stock has a 50-day moving average price of $85.21 and a two-hundred day moving average price of $86.49. 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 $113.51 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 2.38 and a beta of 0.80.
Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The business had revenue of $8.93 billion during the quarter, compared to analysts' expectations of $8.81 billion. During the same period in the prior year, the company earned $1.46 earnings per share. The firm's revenue was up 3.9% on a year-over-year basis. Equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.
Medtronic Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 27th. This is a boost from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.21%. Medtronic's payout ratio is currently 78.45%.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Leerink Partners started coverage on Medtronic in a research note on Monday, June 16th. They issued an "outperform" rating and a $110.00 price target on the stock. Royal Bank Of Canada dropped their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Finally, Truist Financial dropped their price target on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.87.
Get Our Latest Stock Analysis on MDT
Medtronic Company Profile
(
Free Report)
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.
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