California Public Employees Retirement System raised its stake in Medtronic plc. (NYSE:MDT) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,388,459 shares of the medical technology company’s stock after acquiring an additional 36,432 shares during the quarter. California Public Employees Retirement System’s holdings in Medtronic were worth $273,618,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of MDT. Beach Investment Management LLC. acquired a new stake in Medtronic in the 2nd quarter valued at about $3,534,000. Cobblestone Capital Advisors LLC NY increased its position in Medtronic by 44.9% in the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 6,252 shares of the medical technology company’s stock valued at $555,000 after acquiring an additional 1,937 shares in the last quarter. MUFG Americas Holdings Corp increased its position in Medtronic by 1.2% in the 2nd quarter. MUFG Americas Holdings Corp now owns 212,454 shares of the medical technology company’s stock valued at $18,856,000 after acquiring an additional 2,476 shares in the last quarter. First National Trust Co. increased its position in Medtronic by 4.7% in the 2nd quarter. First National Trust Co. now owns 29,504 shares of the medical technology company’s stock valued at $2,618,000 after acquiring an additional 1,320 shares in the last quarter. Finally, Aviva PLC increased its position in Medtronic by 0.8% in the 2nd quarter. Aviva PLC now owns 994,200 shares of the medical technology company’s stock valued at $88,235,000 after acquiring an additional 8,230 shares in the last quarter. Hedge funds and other institutional investors own 81.97% of the company’s stock.

In related news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the transaction, the executive vice president now owns 88,818 shares of the company’s stock, valued at approximately $7,355,906.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard Kuntz sold 78,526 shares of Medtronic stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the transaction, the vice president now directly owns 149,761 shares in the company, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. Insiders have sold a total of 136,684 shares of company stock worth $11,582,596 in the last three months. 0.31% of the stock is owned by insiders.

Several equities research analysts have weighed in on MDT shares. Bank of America upgraded shares of Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Oppenheimer reiterated a “buy” rating on shares of Medtronic in a research report on Thursday, December 21st. Argus upgraded shares of Medtronic from a “hold” rating to a “buy” rating and lifted their price target for the stock from $81.27 to $95.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. SunTrust Banks set a $92.00 price target on shares of Medtronic and gave the stock a “buy” rating in a research report on Sunday, November 19th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $94.00 price target on shares of Medtronic in a research report on Thursday, November 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company’s stock. Medtronic has an average rating of “Buy” and a consensus price target of $90.10.

Medtronic plc. (MDT) opened at $79.48 on Friday. Medtronic plc. has a one year low of $75.71 and a one year high of $89.72. The firm has a market cap of $107,580.00, a P/E ratio of 21.84, a P/E/G ratio of 2.16 and a beta of 0.93. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter last year, the firm earned $1.12 EPS. Medtronic’s quarterly revenue was down 4.0% compared to the same quarter last year. analysts forecast that Medtronic plc. will post 4.76 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, December 29th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, December 28th. Medtronic’s payout ratio is 50.55%.

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Medtronic Profile

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four 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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