Strs Ohio Has $45.20 Million Position in Medtronic PLC $MDT

Strs Ohio lessened its holdings in Medtronic PLC (NYSE:MDT) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 521,668 shares of the medical technology company’s stock after selling 22,937 shares during the quarter. Strs Ohio’s holdings in Medtronic were worth $45,203,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MDT. Lodestone Wealth Management LLC bought a new position in shares of Medtronic during the 4th quarter worth about $27,000. Anfield Capital Management LLC increased 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 acquiring an additional 230 shares during the period. Monetary Solutions Ltd acquired a new position in Medtronic in the fourth quarter worth about $27,000. Board of the Pension Protection Fund acquired a new position in Medtronic in the fourth quarter worth about $29,000. Finally, GoalVest Advisory LLC bought a new position in Medtronic during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the transaction, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of recent research reports. BTIG Research raised Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft dropped their target price on Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a report on Thursday, June 4th. The Goldman Sachs Group cut their target price on Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Weiss Ratings lowered Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Finally, JPMorgan Chase & Co. lowered their price target on Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $99.00.

Medtronic Price Performance

NYSE:MDT opened at $83.07 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The firm has a market cap of $106.33 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 2.12 and a beta of 0.56. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The company’s 50-day moving average price is $79.04 and its two-hundred day moving average price is $89.11.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same quarter last year, the business posted $1.62 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities analysts anticipate that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.5%. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is 77.21%.

About Medtronic

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).