PGGM Investments Purchases 94,617 Shares of Medtronic plc (NYSE:MDT)

PGGM Investments raised its holdings in Medtronic plc (NYSE:MDT - Free Report) by 9.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,104,318 shares of the medical technology company's stock after buying an additional 94,617 shares during the quarter. Medtronic accounts for approximately 1.4% of PGGM Investments' holdings, making the stock its 17th biggest holding. PGGM Investments owned approximately 0.08% of Medtronic worth $90,974,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Morgan Stanley increased its holdings in Medtronic by 9.2% in the 3rd quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company's stock valued at $1,863,229,000 after buying an additional 1,994,123 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Medtronic by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,392,467 shares of the medical technology company's stock worth $1,597,954,000 after purchasing an additional 508,205 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Medtronic by 2.1% in the 3rd quarter. Northern Trust Corp now owns 13,622,933 shares of the medical technology company's stock worth $1,067,493,000 after purchasing an additional 285,819 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Medtronic by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,988,289 shares of the medical technology company's stock worth $843,979,000 after purchasing an additional 79,660 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Medtronic by 6.7% in the 3rd quarter. American Century Companies Inc. now owns 10,297,135 shares of the medical technology company's stock worth $806,883,000 after purchasing an additional 649,367 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Insider Buying and Selling at Medtronic

In related news, EVP Sean Salmon sold 30,695 shares of Medtronic 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 transaction, the executive vice president now owns 48,289 shares of the company's stock, valued at approximately $4,110,842.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Sean Salmon sold 30,695 shares of Medtronic 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 transaction, the executive vice president now owns 48,289 shares of the company's stock, valued at approximately $4,110,842.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of several analyst reports. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $92.00 target price on shares of Medtronic in a report on Wednesday, February 21st. Mizuho upped their target price on shares of Medtronic from $95.00 to $98.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. Oppenheimer upped their target price on shares of Medtronic from $89.00 to $92.00 and gave the stock a "market perform" rating in a report on Wednesday, February 21st. Finally, Truist Financial upped their price target on shares of Medtronic from $87.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $94.91.

Medtronic Trading Up 0.6 %

Medtronic stock traded up $0.49 during trading hours on Friday, reaching $79.74. 5,024,880 shares of the company's stock traded hands, compared to its average volume of 5,781,218. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02. The firm has a market capitalization of $105.88 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 2.71 and a beta of 0.76. The firm's 50 day moving average is $83.53 and its 200-day moving average is $81.19.

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

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were given a dividend of $0.69 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a yield of 3.46%. Medtronic's payout ratio is presently 87.90%.

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.