Medtronic plc (NYSE:MDT) Shares Bought by Strs Ohio

Strs Ohio raised its position in Medtronic plc (NYSE:MDT - Free Report) by 23.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 994,593 shares of the medical technology company's stock after acquiring an additional 188,154 shares during the quarter. Strs Ohio owned approximately 0.07% of Medtronic worth $81,934,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MDT. BKM Wealth Management LLC bought a new stake in shares of Medtronic during the 4th quarter valued at about $941,000. International Assets Investment Management LLC boosted its stake in shares of Medtronic by 8,340.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company's stock valued at $85,558,000 after purchasing an additional 1,026,274 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Medtronic by 69.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company's stock valued at $3,172,000 after purchasing an additional 16,574 shares in the last quarter. Ropes Wealth Advisors LLC boosted its stake in shares of Medtronic by 21.4% during the 3rd quarter. Ropes Wealth Advisors LLC now owns 7,205 shares of the medical technology company's stock valued at $565,000 after purchasing an additional 1,269 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Medtronic by 109,325.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 91,917 shares of the medical technology company's stock valued at $7,572,000 after purchasing an additional 91,833 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insider Activity

In other news, EVP Michael Marinaro sold 854 shares of the business's stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares of the company's stock, valued at $2,321,684.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the company's stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the sale, the executive vice president now directly owns 27,925 shares of the company's stock, valued at $2,321,684.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Sean Salmon sold 30,695 shares of the company's stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the sale, the executive vice president now directly owns 48,289 shares of the company's stock, valued at $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MDT has been the topic of a number of research reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 21st. Oppenheimer boosted their price objective on shares of Medtronic from $89.00 to $92.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 21st. Truist Financial boosted their price objective on shares of Medtronic from $87.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday, February 21st. Finally, Mizuho boosted their price objective on shares of Medtronic from $95.00 to $98.00 and gave the stock a "buy" rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $94.91.

Medtronic Stock Down 2.5 %

Shares of NYSE MDT traded down $2.04 during midday trading on Friday, hitting $80.13. The stock had a trading volume of 6,562,831 shares, compared to its average volume of 6,148,804. The business's 50 day moving average is $84.65 and its 200-day moving average is $81.01. The company has a market cap of $106.40 billion, a P/E ratio of 25.52, a PEG ratio of 2.74 and a beta of 0.76. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.02. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The firm had revenue of $8.09 billion during the quarter, compared to analysts' expectations of $7.95 billion. During the same period in the previous year, the company earned $1.30 earnings per share. The firm's quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts predict that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were issued a dividend of $0.69 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.44%. Medtronic's payout ratio is 87.90%.

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.