Public Employees Retirement Association of Colorado Buys New Holdings in Medtronic plc (NYSE:MDT)

Public Employees Retirement Association of Colorado acquired a new stake in Medtronic plc (NYSE:MDT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 169,584 shares of the medical technology company’s stock, valued at approximately $13,546,000.

Several other institutional investors have also recently made changes to their positions in MDT. Mainstream Capital Management LLC acquired a new position in shares of Medtronic in the 4th quarter valued at about $26,000. Stephens Consulting LLC lifted its stake in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares during the period. Rakuten Securities Inc. boosted its holdings in Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after buying an additional 294 shares in the last quarter. Fiduciary Advisors Inc. acquired a new stake in Medtronic during the fourth quarter valued at $36,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Medtronic in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE MDT opened at $84.19 on Monday. The company has a fifty day moving average of $88.14 and a two-hundred day moving average of $87.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The company has a market capitalization of $107.98 billion, a PE ratio of 25.59, a P/E/G ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT) last issued its quarterly earnings results 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. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic’s dividend payout ratio is currently 85.11%.

Analysts Set New Price Targets

MDT has been the subject of a number of analyst reports. Robert W. Baird upped their price target on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. UBS Group upped their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Truist Financial decreased their target price on Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. 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. According to MarketBeat.com, Medtronic currently has an average rating of “Hold” and an average price target of $96.14.

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.