California Public Employees Retirement System Has $207.98 Million Stake in Medtronic PLC $MDT

California Public Employees Retirement System reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 49.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,400,255 shares of the medical technology company’s stock after selling 2,389,444 shares during the period. California Public Employees Retirement System’s holdings in Medtronic were worth $207,982,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MDT. Vanguard Group Inc. boosted its stake in shares of Medtronic by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock worth $12,388,027,000 after acquiring an additional 1,888,381 shares in the last quarter. State Street Corp raised its stake in shares of Medtronic by 2.0% in the 4th quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock valued at $5,966,780,000 after acquiring an additional 1,199,621 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Medtronic by 2.7% in the 4th quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock valued at $5,150,420,000 after acquiring an additional 1,419,730 shares in the last quarter. Capital Research Global Investors lifted its holdings in Medtronic by 12.6% in the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after purchasing an additional 3,880,174 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Medtronic by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock worth $2,665,832,000 after purchasing an additional 231,919 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MDT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Mizuho dropped their price target on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Argus decreased their price objective on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a report on Monday, April 6th. Finally, Weiss Ratings lowered shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Seventeen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.21.

Medtronic Stock Down 0.4%

NYSE MDT opened at $83.20 on Friday. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The stock has a market cap of $106.50 billion, a PE ratio of 22.30, a PEG ratio of 2.24 and a beta of 0.56. The firm has a 50-day simple moving average of $79.50 and a 200 day simple moving average of $87.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.01. The firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, research analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were given a dividend of $0.72 per share. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is presently 77.21%.

Insider Activity

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

About Medtronic

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).