Utah Retirement Systems Has $30.44 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Utah Retirement Systems cut its position in Medtronic plc (NYSE:MDT) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 257,660 shares of the medical technology company’s stock after selling 11,400 shares during the period. Utah Retirement Systems’ holdings in Medtronic were worth $30,437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Corundum Group Inc. raised its stake in Medtronic by 3.6% in the first quarter. Corundum Group Inc. now owns 2,311 shares of the medical technology company’s stock worth $273,000 after buying an additional 80 shares in the last quarter. South State CORP. grew its holdings in Medtronic by 2.1% in the first quarter. South State CORP. now owns 3,983 shares of the medical technology company’s stock worth $471,000 after purchasing an additional 83 shares during the period. CWA Asset Management Group LLC grew its holdings in Medtronic by 1.0% in the fourth quarter. CWA Asset Management Group LLC now owns 8,713 shares of the medical technology company’s stock worth $1,021,000 after purchasing an additional 85 shares during the period. Field & Main Bank grew its holdings in Medtronic by 1.0% in the fourth quarter. Field & Main Bank now owns 8,555 shares of the medical technology company’s stock worth $1,002,000 after purchasing an additional 85 shares during the period. Finally, TRUE Private Wealth Advisors grew its holdings in Medtronic by 3.4% in the first quarter. TRUE Private Wealth Advisors now owns 2,589 shares of the medical technology company’s stock worth $307,000 after purchasing an additional 86 shares during the period. Institutional investors own 79.47% of the company’s stock.

MDT traded down $0.19 during trading on Thursday, hitting $126.86. The company’s stock had a trading volume of 16,443 shares, compared to its average volume of 3,607,242. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.14 and a current ratio of 2.65. Medtronic plc has a one year low of $94.64 and a one year high of $132.30. The stock has a market cap of $170.49 billion, a price-to-earnings ratio of 47.76, a PEG ratio of 2.48 and a beta of 0.80. The stock has a 50 day moving average price of $125.55.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Wednesday, May 26th. The medical technology company reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.08. The business had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $8.13 billion. Medtronic had a net margin of 11.98% and a return on equity of 11.82%. The company’s quarterly revenue was up 36.5% on a year-over-year basis. During the same period last year, the firm earned $0.58 earnings per share. Analysts expect that Medtronic plc will post 5.68 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 16th. Stockholders of record on Friday, June 25th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.99%. This is an increase from Medtronic’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, June 24th.

A number of equities research analysts have weighed in on MDT shares. Raymond James upped their price objective on shares of Medtronic from $128.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, May 28th. Piper Sandler increased their price target on shares of Medtronic from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, May 27th. SVB Leerink increased their price target on shares of Medtronic from $129.00 to $138.00 and gave the company a “market perform” rating in a report on Friday, May 28th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Medtronic from $134.00 to $149.00 and gave the company a “buy” rating in a report on Friday, May 28th. Finally, increased their price target on shares of Medtronic from $133.00 to $143.00 and gave the company a “buy” rating in a report on Friday, May 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $133.33.

In other news, CFO Karen L. Parkhill sold 605 shares of the firm’s stock in a transaction on Tuesday, June 15th. The shares were sold at an average price of $124.47, for a total transaction of $75,304.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP John R. Liddicoat sold 34,656 shares of the firm’s stock in a transaction on Friday, May 28th. The shares were sold at an average price of $126.65, for a total transaction of $4,389,182.40. The disclosure for this sale can be found here. Insiders have sold a total of 49,349 shares of company stock worth $6,236,241 over the last 90 days. Insiders own 0.52% of the company’s stock.

Medtronic Company Profile

Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiac and Vascular Group; Minimally Invasive Technologies Group; Restorative Therapies Group; and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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