New York State Teachers Retirement System Sells 48,134 Shares of Medtronic plc (NYSE:MDT)

New York State Teachers Retirement System lessened its stake in shares of Medtronic plc (NYSE:MDT) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,116,711 shares of the medical technology company’s stock after selling 48,134 shares during the period. New York State Teachers Retirement System owned 0.09% of Medtronic worth $89,203,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Asset Planning Inc bought a new position in shares of Medtronic in the 4th quarter valued at $70,000. Banque Pictet & Cie SA increased its stake in shares of Medtronic by 193.5% in the 4th quarter. Banque Pictet & Cie SA now owns 78,454 shares of the medical technology company’s stock valued at $6,267,000 after purchasing an additional 51,727 shares during the last quarter. W.H. Cornerstone Investments Inc. increased its stake in shares of Medtronic by 103.2% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 7,146 shares of the medical technology company’s stock valued at $571,000 after purchasing an additional 3,629 shares during the last quarter. DT Investment Partners LLC increased its stake in shares of Medtronic by 2.9% in the 4th quarter. DT Investment Partners LLC now owns 13,502 shares of the medical technology company’s stock valued at $1,079,000 after purchasing an additional 375 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA increased its stake in shares of Medtronic by 30.9% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 105,660 shares of the medical technology company’s stock valued at $8,440,000 after purchasing an additional 24,914 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MDT shares. Robert W. Baird decreased their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Sanford C. Bernstein raised their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday. Barclays raised their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company cut their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Stock Up 1.0 %

Shares of MDT opened at $92.27 on Friday. The company has a market capitalization of $118.32 billion, a PE ratio of 28.22, a PEG ratio of 2.57 and a beta of 0.84. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The stock’s 50-day moving average price is $85.16 and its two-hundred day moving average price is $86.68. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. On average, analysts anticipate that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is 85.63%.

Medtronic Company 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.