Public Employees Retirement Association of Colorado Sells 1,986 Shares of Medtronic PLC (NYSE:MDT)

Public Employees Retirement Association of Colorado decreased its position in Medtronic PLC (NYSE:MDT) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,763,905 shares of the medical technology company’s stock after selling 1,986 shares during the quarter. Medtronic makes up approximately 1.2% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 16th largest holding. Public Employees Retirement Association of Colorado’s holdings in Medtronic were worth $191,595,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Private Ocean LLC boosted its position in Medtronic by 188.5% during the 3rd quarter. Private Ocean LLC now owns 225 shares of the medical technology company’s stock worth $25,000 after acquiring an additional 147 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in Medtronic in the 2nd quarter valued at $25,000. River & Mercantile Asset Management LLP bought a new stake in Medtronic in the 2nd quarter valued at $26,000. Lenox Wealth Advisors LLC raised its stake in Medtronic by 393.3% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 296 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 236 shares during the period. Finally, Redhawk Wealth Advisors Inc. bought a new position in Medtronic during the 2nd quarter worth $34,000. 81.18% of the stock is currently owned by institutional investors.

Several research analysts have weighed in on MDT shares. ValuEngine cut Medtronic from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays increased their price objective on Medtronic from $110.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Royal Bank of Canada set a $110.00 price objective on Medtronic and gave the stock a “buy” rating in a research report on Friday, August 16th. UBS Group increased their price objective on Medtronic from $112.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Raymond James increased their price objective on Medtronic from $105.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Medtronic has a consensus rating of “Buy” and a consensus price target of $114.33.

Shares of MDT traded up $0.23 during trading hours on Friday, hitting $107.03. 2,260,267 shares of the company were exchanged, compared to its average volume of 5,086,191. The company has a market cap of $141.59 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 2.59 and a beta of 0.62. Medtronic PLC has a fifty-two week low of $81.66 and a fifty-two week high of $112.05. The company has a quick ratio of 2.20, a current ratio of 2.67 and a debt-to-equity ratio of 0.49. The firm’s fifty day moving average is $107.65 and its 200 day moving average is $100.69.

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Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.08. The company had revenue of $7.49 billion for the quarter, compared to analyst estimates of $7.40 billion. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. Medtronic’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.17 EPS. Analysts anticipate that Medtronic PLC will post 5.56 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, September 27th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, September 26th. Medtronic’s dividend payout ratio (DPR) is currently 41.38%.

In other news, EVP Robert John White sold 52,165 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $109.33, for a total transaction of $5,703,199.45. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Hooman Hakami sold 82,877 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $107.31, for a total value of $8,893,530.87. Following the sale, the executive vice president now directly owns 30,761 shares in the company, valued at $3,300,962.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,467 shares of company stock worth $16,900,132. 0.28% of the stock is currently owned by insiders.

Medtronic Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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