Teachers Retirement System of The State of Kentucky cut its stake in shares of Medtronic plc. (NYSE:MDT) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 564,481 shares of the medical technology company’s stock after selling 6,400 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Medtronic plc. were worth $40,208,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in MDT. Sunbelt Securities Inc. bought a new position in Medtronic plc. during the fourth quarter valued at $105,000. Norway Savings Bank bought a new position in Medtronic plc. during the fourth quarter valued at $115,000. Motco increased its position in Medtronic plc. by 70.9% in the third quarter. Motco now owns 1,350 shares of the medical technology company’s stock valued at $117,000 after buying an additional 560 shares during the last quarter. TLP Group LLC bought a new position in Medtronic plc. during the third quarter valued at $124,000. Finally, Birch Hill Investment Advisors LLC bought a new position in Medtronic plc. during the third quarter valued at $128,000. 82.71% of the stock is owned by hedge funds and other institutional investors.
Medtronic plc. (NYSE:MDT) opened at 81.03 on Tuesday. The firm has a market cap of $110.92 billion, a PE ratio of 28.60 and a beta of 0.97. Medtronic plc. has a 52 week low of $69.35 and a 52 week high of $89.27. The firm’s 50 day moving average price is $80.22 and its 200-day moving average price is $79.18.
Medtronic plc. (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 21st. The medical technology company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Medtronic plc. had a return on equity of 12.36% and a net margin of 14.63%. The company earned $7.28 billion during the quarter, compared to the consensus estimate of $7.22 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts forecast that Medtronic plc. will post $4.58 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 13th. Stockholders of record on Friday, March 24th will be given a dividend of $0.43 per share. The ex-dividend date is Wednesday, March 22nd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.12%. Medtronic plc.’s dividend payout ratio (DPR) is presently 57.14%.
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Several research firms have weighed in on MDT. Needham & Company LLC reissued a “buy” rating on shares of Medtronic plc. in a research report on Monday. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Medtronic plc. in a research report on Wednesday, March 22nd. BTIG Research reissued a “neutral” rating on shares of Medtronic plc. in a research report on Monday, March 20th. Vetr downgraded Medtronic plc. from a “hold” rating to a “sell” rating and set a $78.50 price target for the company. in a research report on Wednesday, March 1st. Finally, Zacks Investment Research raised Medtronic plc. from a “sell” rating to a “hold” rating in a research report on Thursday, February 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $87.57.
In other news, EVP Hoedt Rob Ten sold 50,757 shares of the stock in a transaction on Monday, March 20th. The stock was sold at an average price of $81.58, for a total transaction of $4,140,756.06. Following the completion of the sale, the executive vice president now owns 59,392 shares in the company, valued at approximately $4,845,199.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Omar Ishrak sold 95,000 shares of the stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $82.82, for a total value of $7,867,900.00. Following the sale, the chief executive officer now owns 645,616 shares of the company’s stock, valued at approximately $53,469,917.12. The disclosure for this sale can be found here. Insiders have sold a total of 198,073 shares of company stock valued at $16,315,832 in the last quarter. Insiders own 0.25% of the company’s stock.
Medtronic plc. Company Profile
Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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