Strs Ohio Has $134.39 Million Holdings in Medtronic PLC (NYSE:MDT)

Strs Ohio cut its position in shares of Medtronic PLC (NYSE:MDT) by 15.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,184,561 shares of the medical technology company’s stock after selling 214,231 shares during the quarter. Strs Ohio owned 0.09% of Medtronic worth $134,388,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Private Ocean LLC raised its position in Medtronic by 188.5% during the third quarter. Private Ocean LLC now owns 225 shares of the medical technology company’s stock valued at $25,000 after buying an additional 147 shares during the period. Manchester Financial Inc. purchased a new position in Medtronic during the 4th quarter valued at about $28,000. River & Mercantile Asset Management LLP acquired a new position in shares of Medtronic in the 2nd quarter valued at about $26,000. Lenox Wealth Advisors LLC increased its holdings in shares of Medtronic by 393.3% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 296 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 236 shares during the period. Finally, Barnett & Company Inc. acquired a new position in shares of Medtronic in the 4th quarter valued at about $34,000. 80.61% of the stock is owned by institutional investors.

NYSE MDT traded down $1.62 during trading on Friday, reaching $119.35. The company’s stock had a trading volume of 2,242,021 shares, compared to its average volume of 3,500,076. The company has a current ratio of 2.77, a quick ratio of 2.28 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $162.31 billion, a PE ratio of 34.49, a PEG ratio of 2.94 and a beta of 0.60. The business has a 50-day moving average price of $115.12 and a 200-day moving average price of $108.53. Medtronic PLC has a 1-year low of $82.77 and a 1-year high of $122.15.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.03. The company had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.66 billion. Medtronic had a net margin of 15.11% and a return on equity of 14.52%. Medtronic’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.22 EPS. As a group, analysts expect that Medtronic PLC will post 5.6 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, December 27th were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $2.16 annualized dividend and a yield of 1.81%. Medtronic’s dividend payout ratio (DPR) is currently 41.38%.

In other Medtronic news, EVP Robert John White sold 52,166 shares of Medtronic stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $110.62, for a total value of $5,770,602.92. Following the transaction, the executive vice president now directly owns 77,510 shares of the company’s stock, valued at approximately $8,574,156.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael J. Coyle sold 2,102 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $109.77, for a total transaction of $230,736.54. Following the transaction, the executive vice president now directly owns 189,162 shares in the company, valued at approximately $20,764,312.74. The disclosure for this sale can be found here. Insiders sold 106,433 shares of company stock valued at $11,704,539 over the last 90 days. 0.28% of the stock is owned by corporate insiders.

MDT has been the subject of several research reports. Deutsche Bank initiated coverage on shares of Medtronic in a report on Friday, January 3rd. They set a “buy” rating and a $99.00 price target for the company. Argus boosted their price objective on shares of Medtronic to $135.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Piper Sandler upped their price objective on shares of Medtronic from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley increased their target price on shares of Medtronic from $116.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Finally, Piper Jaffray Companies lifted their target price on shares of Medtronic to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $120.59.

Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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