Ontario Teachers Pension Plan Board Has $1.14 Million Position in Medtronic plc (NYSE:MDT)

Ontario Teachers Pension Plan Board raised its position in Medtronic plc (NYSE:MDT) by 31.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,270 shares of the medical technology company’s stock after purchasing an additional 3,395 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Medtronic were worth $1,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Morse Asset Management Inc bought a new stake in Medtronic in the 3rd quarter valued at about $225,000. Te Ahumairangi Investment Management Ltd grew its position in Medtronic by 4.1% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company’s stock worth $4,684,000 after buying an additional 2,050 shares in the last quarter. Chelsea Counsel Co. acquired a new stake in Medtronic during the third quarter worth approximately $45,000. Tudor Financial Inc. bought a new position in Medtronic during the 3rd quarter worth $586,000. Finally, Anchor Investment Management LLC raised its holdings in Medtronic by 1.2% in the 3rd quarter. Anchor Investment Management LLC now owns 107,518 shares of the medical technology company’s stock valued at $9,680,000 after acquiring an additional 1,271 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and raised their price target for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Finally, Robert W. Baird upped their target price on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $96.14.

Medtronic Price Performance

Shares of MDT opened at $82.26 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock has a market cap of $105.51 billion, a PE ratio of 25.00, a PEG ratio of 2.22 and a beta of 0.79. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The business has a 50-day simple moving average of $89.39 and a two-hundred day simple moving average of $87.56.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.40%. The ex-dividend date was Friday, March 28th. Medtronic’s dividend payout ratio is currently 85.11%.

Medtronic 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.