Public Employees Retirement Association of Colorado Reduces Stake in Medtronic PLC (MDT)

Public Employees Retirement Association of Colorado cut its stake in Medtronic PLC (NYSE:MDT) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,681,382 shares of the medical technology company’s stock after selling 18,937 shares during the quarter. Medtronic makes up 0.9% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 16th biggest holding. Public Employees Retirement Association of Colorado owned 0.12% of Medtronic worth $130,761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of MDT. Advantus Capital Management Inc increased its stake in shares of Medtronic by 0.4% in the first quarter. Advantus Capital Management Inc now owns 137,521 shares of the medical technology company’s stock worth $11,079,000 after acquiring an additional 497 shares during the last quarter. Homrich & Berg increased its stake in shares of Medtronic by 19.0% in the first quarter. Homrich & Berg now owns 4,991 shares of the medical technology company’s stock worth $402,000 after acquiring an additional 798 shares during the last quarter. Westside Investment Management Inc. increased its stake in shares of Medtronic by 114.5% in the first quarter. Westside Investment Management Inc. now owns 13,476 shares of the medical technology company’s stock worth $1,081,000 after acquiring an additional 7,193 shares during the last quarter. Israel Discount Bank of New York acquired a new position in shares of Medtronic in the first quarter worth $117,000. Finally, Sentry Investments Corp. increased its stake in shares of Medtronic by 0.5% in the first quarter. Sentry Investments Corp. now owns 1,093,500 shares of the medical technology company’s stock worth $88,092,000 after acquiring an additional 5,100 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Medtronic PLC (NYSE MDT) traded up $0.50 during mid-day trading on Monday, reaching $81.07. 4,106,400 shares of the company’s stock were exchanged, compared to its average volume of 4,958,920. 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 one year low of $69.35 and a one year high of $89.72. The company has a market capitalization of $109,728.08, a PE ratio of 17.47, a price-to-earnings-growth ratio of 2.24 and a beta of 1.00.

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

In related news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $79.02, for a total value of $1,264,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. Insiders have sold 172,407 shares of company stock valued at $13,974,223 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

MDT has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Medtronic from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Wells Fargo & Company cut shares of Medtronic from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $93.00 to $83.00 in a report on Monday, October 9th. Stifel Nicolaus decreased their price objective on shares of Medtronic from $91.00 to $83.00 and set a “hold” rating for the company in a report on Monday, October 9th. SunTrust Banks reiterated a “buy” rating and issued a $96.00 price objective on shares of Medtronic in a report on Friday, November 3rd. Finally, Leerink Swann reiterated a “market perform” rating and issued a $85.00 price objective (down from $88.00) on shares of Medtronic in a report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target 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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