PGGM Investments Sells 179,314 Shares of Medtronic PLC $MDT

PGGM Investments lowered its stake in Medtronic PLC (NYSE:MDT) by 15.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,011,914 shares of the medical technology company’s stock after selling 179,314 shares during the period. Medtronic accounts for about 1.5% of PGGM Investments’ holdings, making the stock its 28th biggest holding. PGGM Investments’ holdings in Medtronic were worth $97,204,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MDT. Lodestone Wealth Management LLC bought a new position in Medtronic in the fourth quarter valued at approximately $27,000. Anfield Capital Management LLC lifted its stake in Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after buying an additional 230 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in Medtronic in the third quarter valued at approximately $29,000. Board of the Pension Protection Fund bought a new position in Medtronic in the fourth quarter valued at approximately $29,000. Finally, GoalVest Advisory LLC bought a new position in Medtronic in the fourth quarter valued at approximately $29,000. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of a number of research reports. CICC Research initiated coverage on shares of Medtronic in a research note on Friday, January 30th. They issued an “outperform” rating on the stock. Piper Sandler cut their price target on shares of Medtronic from $105.00 to $91.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Robert W. Baird boosted their price objective on shares of Medtronic from $92.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Argus cut their price objective on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Leerink Partners reissued an “outperform” rating and issued a $119.00 price objective on shares of Medtronic in a research report on Tuesday, March 10th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $106.45.

Medtronic Stock Performance

Shares of MDT stock opened at $78.66 on Tuesday. The company’s fifty day simple moving average is $83.32 and its 200-day simple moving average is $93.09. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The firm has a market cap of $100.99 billion, a PE ratio of 21.91, a P/E/G ratio of 1.87 and a beta of 0.62. Medtronic PLC has a 12 month low of $74.40 and a 12 month high of $106.33.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, March 27th. Medtronic’s payout ratio is currently 79.11%.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).