Texas Permanent School Fund Corp Has $23.95 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Texas Permanent School Fund Corp boosted its holdings in shares of Medtronic plc (NYSE:MDTFree Report) by 0.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 274,851 shares of the medical technology company’s stock after buying an additional 137 shares during the period. Texas Permanent School Fund Corp’s holdings in Medtronic were worth $23,953,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. iA Global Asset Management Inc. purchased a new stake in Medtronic in the 3rd quarter worth approximately $493,000. Harbour Investments Inc. raised its holdings in shares of Medtronic by 16.5% during the third quarter. Harbour Investments Inc. now owns 10,060 shares of the medical technology company’s stock worth $788,000 after acquiring an additional 1,427 shares in the last quarter. Financial Gravity Asset Management Inc. raised its holdings in shares of Medtronic by 317.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 279 shares in the last quarter. Creative Planning grew its stake in Medtronic by 57.0% in the third quarter. Creative Planning now owns 226,966 shares of the medical technology company’s stock valued at $17,785,000 after purchasing an additional 82,413 shares in the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC acquired a new position in Medtronic in the 3rd quarter worth about $283,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

Shares of MDT stock traded up $0.99 during trading hours on Thursday, reaching $78.05. 6,224,569 shares of the company’s stock were exchanged, compared to its average volume of 6,299,632. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00. The company has a quick ratio of 1.55, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $100.08 billion, a P/E ratio of 28.02, a P/E/G ratio of 2.24 and a beta of 0.82. The business has a fifty day moving average price of $81.33 and a 200-day moving average price of $83.24.

Medtronic (NYSE:MDTGet Free Report) last released its earnings results on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.45 by $0.01. The firm had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.44 billion. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.57 EPS. Analysts predict that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.70 dividend. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Friday, June 28th. Medtronic’s dividend payout ratio is currently 101.82%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Friday, May 24th. Wells Fargo & Company lifted their target price on shares of Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. UBS Group increased their price target on shares of Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research note on Friday, May 24th. Citigroup reduced their price objective on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research report on Wednesday, June 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $91.09.

Get Our Latest Analysis on MDT

Insider Transactions at Medtronic

In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $83.77, for a total value of $1,601,096.01. Following the transaction, the chief executive officer now directly owns 143,348 shares in the company, valued at $12,008,261.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.30% of the stock is currently owned by insiders.

About Medtronic

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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