Teachers Retirement System of The State of Kentucky trimmed its position in Medtronic plc. (NYSE:MDT) by 13.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 446,443 shares of the medical technology company’s stock after selling 70,630 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Medtronic were worth $36,050,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Chip Partners Inc. acquired a new position in Medtronic during the 3rd quarter valued at approximately $118,000. Quadrant Capital Group LLC boosted its position 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 valued at $114,000 after purchasing an additional 290 shares during the period. Westwood Holdings Group Inc. acquired a new position in Medtronic during the 2nd quarter valued at approximately $151,000. Barrett Asset Management LLC boosted its position in Medtronic by 856.0% during the 4th quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock valued at $147,000 after purchasing an additional 1,635 shares during the period. Finally, San Francisco Sentry Investment Group CA acquired a new position in Medtronic during the 2nd quarter valued at approximately $181,000. Institutional investors and hedge funds own 80.79% of the company’s stock.
Medtronic plc. (NYSE MDT) opened at $83.15 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.09 and a current ratio of 2.43. Medtronic plc. has a 12-month low of $76.51 and a 12-month high of $89.72. The stock has a market capitalization of $112,699.27, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97.
A number of research analysts recently issued reports on MDT shares. Bank of America upgraded Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Oppenheimer restated a “buy” rating on shares of Medtronic in a research report on Thursday, December 21st. Argus upgraded Medtronic from a “hold” rating to a “buy” rating and boosted their price objective for the company from $81.27 to $95.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. SunTrust Banks set a $92.00 price objective on Medtronic and gave the company a “buy” rating in a research report on Sunday, November 19th. Finally, Jefferies Group restated a “buy” rating and set a $99.00 price objective on shares of Medtronic in a research report on Thursday, November 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. Medtronic has a consensus rating of “Buy” and a consensus price target of $91.50.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $82.82, for a total value of $1,325,120.00. Following the completion of the sale, the executive vice president now owns 88,818 shares in the company, valued at $7,355,906.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Carol A. Surface sold 24,479 shares of the company’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $78.18, for a total value of $1,913,768.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 145,163 shares of company stock valued at $12,232,045. Insiders own 0.31% of the company’s stock.
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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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