First Midwest Bank Trust Division Sells 7,083 Shares of Medtronic PLC (MDT)

First Midwest Bank Trust Division cut its stake in Medtronic PLC (NYSE:MDT) by 38.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,148 shares of the medical technology company’s stock after selling 7,083 shares during the period. First Midwest Bank Trust Division’s holdings in Medtronic were worth $867,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of MDT. Captrust Financial Advisors acquired a new stake in Medtronic during the 2nd quarter valued at $384,000. Wesbanco Bank Inc. increased its holdings in Medtronic by 3.1% during the 2nd quarter. Wesbanco Bank Inc. now owns 10,170 shares of the medical technology company’s stock valued at $903,000 after purchasing an additional 308 shares in the last quarter. Dupont Capital Management Corp increased its holdings in Medtronic by 28.8% during the 2nd quarter. Dupont Capital Management Corp now owns 74,052 shares of the medical technology company’s stock valued at $6,572,000 after purchasing an additional 16,562 shares in the last quarter. Chilton Investment Co. LLC increased its holdings in Medtronic by 6.1% during the 2nd quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock valued at $2,382,000 after purchasing an additional 1,538 shares in the last quarter. Finally, Moors & Cabot Inc. increased its holdings in Medtronic by 0.4% during the 2nd quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock valued at $3,842,000 after purchasing an additional 178 shares in the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $79.02, for a total value of $1,264,320.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Omar Ishrak sold 140,407 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $81.63, for a total value of $11,461,423.41. Following the completion of the transaction, the chief executive officer now owns 668,503 shares in the company, valued at $54,569,899.89. The disclosure for this sale can be found here. Insiders sold a total of 172,407 shares of company stock valued at $13,974,223 over the last three months. Insiders own 0.31% of the company’s stock.

Medtronic PLC (NYSE:MDT) traded down $0.77 during midday trading on Thursday, hitting $80.73. The stock had a trading volume of 2,719,837 shares, compared to its average volume of 4,960,256. The firm has a market cap of $109,525.05, a PE ratio of 17.44, a P/E/G ratio of 2.23 and a beta of 1.00. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the firm earned $1.12 EPS. equities research analysts forecast that Medtronic PLC will post 4.77 earnings per share for the current year.

MDT has been the subject of a number of recent analyst reports. BidaskClub cut Medtronic from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Royal Bank Of Canada dropped their price target on Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 9th. BMO Capital Markets reaffirmed an “outperform” rating and set a $92.00 price target (down from $94.00) on shares of Medtronic in a report on Wednesday, August 23rd. Zacks Investment Research raised Medtronic from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, Barclays dropped their price target on Medtronic from $94.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $88.02.

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Medtronic Company 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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