Teachers Retirement System of The State of Kentucky reduced its stake in Medtronic PLC (NYSE:MDT) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 508,550 shares of the medical technology company’s stock after selling 10,690 shares during the period. Medtronic PLC accounts for 0.6% of Teachers Retirement System of The State of Kentucky’s holdings, making the stock its 24th biggest holding. Teachers Retirement System of The State of Kentucky’s holdings in Medtronic PLC were worth $45,133,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of MDT. Hudock Capital Group LLC increased its position in shares of Medtronic PLC by 0.5% during the second quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock worth $194,000 after acquiring an additional 11 shares in the last quarter. Bollard Group LLC increased its position in shares of Medtronic PLC by 0.4% during the second quarter. Bollard Group LLC now owns 3,651 shares of the medical technology company’s stock worth $324,000 after acquiring an additional 14 shares in the last quarter. Triangle Securities Wealth Management increased its position in shares of Medtronic PLC by 0.3% during the second quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock worth $390,000 after acquiring an additional 15 shares in the last quarter. IFC Holdings Incorporated FL increased its position in shares of Medtronic PLC by 0.3% during the second quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock worth $501,000 after acquiring an additional 17 shares in the last quarter. Finally, North Star Investment Management Corp. increased its position in shares of Medtronic PLC by 1.1% during the second quarter. North Star Investment Management Corp. now owns 1,995 shares of the medical technology company’s stock worth $177,000 after acquiring an additional 22 shares in the last quarter. 81.37% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently commented on MDT. Needham & Company LLC reissued a “buy” rating and set a $94.00 target price on shares of Medtronic PLC in a research report on Thursday, November 9th. SunTrust Banks, Inc. reissued a “buy” rating and set a $96.00 target price on shares of Medtronic PLC in a research report on Friday, November 3rd. Cowen and Company reissued a “buy” rating and set a $95.00 target price on shares of Medtronic PLC in a research report on Friday, November 3rd. BMO Capital Markets reissued an “outperform” rating and set a $89.00 target price (down from $92.00) on shares of Medtronic PLC in a research report on Tuesday, October 10th. Finally, Leerink Swann reissued a “market perform” rating and set a $85.00 target price (down from $88.00) on shares of Medtronic PLC in a research report on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $87.88.

In related news, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the sale, the chief executive officer now directly owns 668,503 shares in the company, valued at approximately $54,569,899.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

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Shares of Medtronic PLC (MDT) opened at $79.20 on Tuesday. The company has a market cap of $107,459.70, a P/E ratio of 16.92, a P/E/G ratio of 2.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.40 and a current ratio of 1.64. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. The company had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. Medtronic PLC’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 EPS. research analysts predict that Medtronic PLC will post 4.66 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, September 29th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, September 28th. Medtronic PLC’s payout ratio is currently 61.95%.

About Medtronic PLC

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 PLC (NYSE:MDT)

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