Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 9,334 Shares of Medtronic PLC $MDT

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its holdings in shares of Medtronic PLC (NYSE:MDT) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 298,344 shares of the medical technology company’s stock after selling 9,334 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Medtronic were worth $28,659,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Lodestone Wealth Management LLC bought a new position in Medtronic during the fourth quarter worth $27,000. Anfield Capital Management LLC raised its stake in Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after buying an additional 230 shares during the last quarter. Board of the Pension Protection Fund bought a new position in Medtronic during the fourth quarter worth $29,000. GoalVest Advisory LLC bought a new position in Medtronic during the fourth quarter worth $29,000. Finally, Imprint Wealth LLC bought a new position in Medtronic during the third quarter worth $31,000. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of a number of analyst reports. UBS Group lowered their target price on shares of Medtronic from $104.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. Truist Financial lowered their target price on shares of Medtronic from $103.00 to $95.00 and set a “hold” rating for the company in a research note on Wednesday, April 15th. The Goldman Sachs Group set a $84.00 target price on shares of Medtronic and gave the stock a “neutral” rating in a research note on Thursday, May 21st. Wall Street Zen downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Weiss Ratings downgraded shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $106.45.

Medtronic Stock Down 0.1%

Medtronic stock opened at $73.73 on Monday. Medtronic PLC has a fifty-two week low of $73.67 and a fifty-two week high of $106.33. The stock has a market cap of $94.66 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.76 and a beta of 0.58. The firm’s 50-day simple moving average is $82.36 and its 200 day simple moving average is $92.64. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were issued a dividend of $0.71 per share. The ex-dividend date was Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.9%. Medtronic’s payout ratio is 79.11%.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).