Teacher Retirement System of Texas Has $107.74 Million Position in Medtronic plc (NYSE:MDT)

Teacher Retirement System of Texas boosted its holdings in Medtronic plc (NYSE:MDT) by 41.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,348,741 shares of the medical technology company’s stock after purchasing an additional 397,117 shares during the quarter. Teacher Retirement System of Texas owned about 0.11% of Medtronic worth $107,737,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vinva Investment Management Ltd grew its position in Medtronic by 16.2% in the 4th quarter. Vinva Investment Management Ltd now owns 76,939 shares of the medical technology company’s stock valued at $6,125,000 after purchasing an additional 10,736 shares during the period. ProVise Management Group LLC boosted its holdings in Medtronic by 2.0% during the 4th quarter. ProVise Management Group LLC now owns 125,582 shares of the medical technology company’s stock worth $10,031,000 after acquiring an additional 2,471 shares during the last quarter. Xponance Inc. boosted its holdings in Medtronic by 3.4% during the 4th quarter. Xponance Inc. now owns 188,501 shares of the medical technology company’s stock worth $15,057,000 after acquiring an additional 6,222 shares during the last quarter. Boston Partners boosted its holdings in Medtronic by 117.4% during the 4th quarter. Boston Partners now owns 3,102,605 shares of the medical technology company’s stock worth $248,311,000 after acquiring an additional 1,675,588 shares during the last quarter. Finally, Generali Asset Management SPA SGR purchased a new position in Medtronic during the 4th quarter worth $3,109,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

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

Medtronic Trading Down 0.5 %

Shares of Medtronic stock opened at $91.78 on Thursday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The stock’s 50-day simple moving average is $90.30 and its 200 day simple moving average is $88.04. The stock has a market capitalization of $117.71 billion, a P/E ratio of 27.90, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share 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 firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. As a group, research analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio is presently 85.11%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MDT. UBS Group lifted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Robert W. Baird lifted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $96.07.

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.