Ensign Peak Advisors Inc Has $27.63 Million Holdings in Medtronic plc (NYSE:MDT)

Ensign Peak Advisors Inc lowered its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 345,896 shares of the medical technology company's stock after selling 25,378 shares during the period. Ensign Peak Advisors Inc's holdings in Medtronic were worth $27,630,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Olstein Capital Management L.P. lifted its position in Medtronic by 8.0% during the fourth 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. Czech National Bank grew its holdings 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 worth $22,212,000 after purchasing an additional 16,786 shares during the period. Empowered Funds LLC increased its position in 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 purchasing an additional 2,778 shares in the last quarter. Talbot Financial LLC raised its holdings in Medtronic by 6.4% in the fourth quarter. Talbot Financial LLC now owns 133,453 shares of the medical technology company's stock valued at $10,660,000 after buying an additional 8,031 shares during the period. Finally, Caprock Group LLC lifted its position in Medtronic by 12.6% during the fourth quarter. Caprock Group LLC now owns 47,767 shares of the medical technology company's stock valued at $3,849,000 after buying an additional 5,363 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Down 1.0%

Shares of MDT stock traded down $0.87 on Wednesday, reaching $84.24. 5,684,370 shares of the company's stock traded hands, compared to its average volume of 6,743,612. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The company has a market capitalization of $108.04 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The business's 50 day moving average price is $86.43 and its two-hundred day moving average price is $86.72.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly 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. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. On average, equities analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.32%. Medtronic's dividend payout ratio (DPR) is currently 85.11%.

Analyst Upgrades and Downgrades

MDT has been the topic of several recent research reports. Robert W. Baird boosted their price target on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Truist Financial cut their price target on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and lifted their target price for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, UBS Group lifted their price target on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average 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.