Ilmarinen Mutual Pension Insurance Co Purchases Shares of 55,000 Medtronic PLC $MDT

Ilmarinen Mutual Pension Insurance Co purchased a new stake in shares of Medtronic PLC (NYSE:MDT) in the fourth quarter, HoldingsChannel reports. The firm purchased 55,000 shares of the medical technology company’s stock, valued at approximately $5,283,000.

A number of other institutional investors have also made changes to their positions in the stock. Lodestone Wealth Management LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at $27,000. Anfield Capital Management LLC grew its stake in shares of Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after buying an additional 230 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Medtronic in the third quarter valued at $29,000. Board of the Pension Protection Fund acquired a new stake in shares of Medtronic in the fourth quarter valued at $29,000. Finally, GoalVest Advisory LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at $29,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Down 2.4%

MDT opened at $73.73 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. Medtronic PLC has a 12 month low of $73.67 and a 12 month high of $106.33. The stock has a market capitalization of $94.66 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.80 and a beta of 0.62. The business has a fifty day moving average price of $82.36 and a 200 day moving average price of $92.65.

Medtronic Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Stifel Nicolaus dropped their price objective on shares of Medtronic from $105.00 to $95.00 and set a “hold” rating for the company in a report on Monday, April 6th. Barclays lifted their price objective on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. Leerink Partners restated an “outperform” rating and issued a $119.00 price objective on shares of Medtronic in a report on Tuesday, March 10th. Finally, Wells Fargo & Company began coverage on shares of Medtronic in a report on Friday, January 30th. They issued an “overweight” rating and a $114.00 price objective for the company. Fifteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and a consensus target price of $106.45.

Medtronic Company 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).