New York State Teachers Retirement System decreased its position in shares of Medtronic PLC (NYSE:MDT) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,388,622 shares of the medical technology company’s stock after selling 22,516 shares during the quarter. New York State Teachers Retirement System owned approximately 0.18% of Medtronic worth $185,763,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust lifted its holdings in Medtronic by 22.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after buying an additional 210 shares during the period. BDO Wealth Advisors LLC acquired a new position in Medtronic during the 2nd quarter worth about $103,000. Motco lifted its holdings in Medtronic by 8.7% during the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after buying an additional 99 shares during the period. Quadrant Capital Group LLC lifted its holdings in Medtronic by 21.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after buying an additional 290 shares during the period. Finally, Israel Discount Bank of New York acquired a new position in Medtronic during the 1st quarter worth about $117,000. 81.85% of the stock is currently owned by institutional investors.
In related news, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $79.02, for a total value of $1,264,320.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the completion of the sale, the chief executive officer now directly owns 668,503 shares of the company’s stock, 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 worth $13,974,223 over the last three months. 0.31% of the stock is owned by company insiders.
MDT has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $94.00 target price on shares of Medtronic in a report on Thursday, November 9th. BidaskClub downgraded Medtronic from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Zacks Investment Research downgraded Medtronic from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. SunTrust Banks set a $92.00 target price on Medtronic and gave the stock a “buy” rating in a report on Sunday, November 19th. Finally, Royal Bank Of Canada cut their target price on Medtronic from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 9th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $88.02.
Shares of Medtronic PLC (NYSE MDT) traded up $0.50 during trading hours on Friday, hitting $81.07. The stock had a trading volume of 4,072,036 shares, compared to its average volume of 5,429,112. The firm has a market cap of $109,728.09, a P/E ratio of 17.47, a price-to-earnings-growth ratio of 2.24 and a beta of 1.00. 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 PLC has a 12 month low of $69.35 and a 12 month high of $89.72.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. The company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The firm’s revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 EPS. research analysts predict that Medtronic PLC will post 4.77 EPS for the current fiscal year.
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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