National Pension Service Increases Stake in Medtronic plc (NYSE:MDT)

National Pension Service lifted its stake in shares of Medtronic plc (NYSE:MDTFree Report) by 14.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,678,032 shares of the medical technology company’s stock after acquiring an additional 347,967 shares during the period. National Pension Service’s holdings in Medtronic were worth $241,103,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Graypoint LLC increased its position in Medtronic by 6.3% during the 1st quarter. Graypoint LLC now owns 6,273 shares of the medical technology company’s stock worth $547,000 after purchasing an additional 373 shares in the last quarter. Mutual Advisors LLC increased its position in Medtronic by 21.3% during the 1st quarter. Mutual Advisors LLC now owns 39,040 shares of the medical technology company’s stock worth $3,402,000 after purchasing an additional 6,853 shares in the last quarter. Whittier Trust Co. increased its position in Medtronic by 3.5% during the 1st quarter. Whittier Trust Co. now owns 9,502 shares of the medical technology company’s stock worth $828,000 after purchasing an additional 319 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Medtronic by 5.1% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 13,743 shares of the medical technology company’s stock worth $1,198,000 after purchasing an additional 672 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in Medtronic during the 1st quarter worth approximately $183,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on MDT. Oppenheimer increased their target price on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and increased their price objective for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Citigroup increased their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Piper Sandler increased their price objective on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Finally, Stifel Nicolaus increased their price objective on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $95.36.

Read Our Latest Stock Analysis on MDT

Medtronic Stock Up 0.3 %

MDT stock opened at $90.30 on Monday. Medtronic plc has a twelve month low of $69.32 and a twelve month high of $92.68. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $115.81 billion, a P/E ratio of 30.54, a PEG ratio of 2.55 and a beta of 0.84. The firm has a 50 day simple moving average of $89.64 and a 200-day simple moving average of $84.20.

Medtronic (NYSE:MDTGet Free Report) last announced its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. During the same period last year, the business posted $1.20 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities research analysts predict that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 94.59%.

Medtronic Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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