Kentucky Retirement Systems Has $8.04 Million Holdings in Medtronic plc (NYSE:MDT)

Kentucky Retirement Systems trimmed its position in shares of Medtronic plc (NYSE:MDT) by 10.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,353 shares of the medical technology company’s stock after selling 10,707 shares during the period. Kentucky Retirement Systems’ holdings in Medtronic were worth $8,044,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MDT. Olstein Capital Management L.P. raised its holdings in shares of Medtronic by 19.2% in the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after purchasing an additional 14,000 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Medtronic during the 2nd quarter valued at $25,643,000. Ferguson Wellman Capital Management Inc. bought a new position in Medtronic during the third quarter worth $9,486,000. National Bank of Canada FI increased its holdings in shares of Medtronic by 13.6% in the first quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company’s stock valued at $21,642,000 after purchasing an additional 31,195 shares during the last quarter. Finally, Harvest Portfolios Group Inc. raised its position in shares of Medtronic by 6.5% in the third quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock valued at $62,042,000 after purchasing an additional 42,112 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Up 1.8 %

MDT opened at $87.53 on Friday. Medtronic plc has a 12 month low of $74.20 and a 12 month high of $92.68. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average price is $89.48 and its 200-day moving average price is $84.71. The company has a market cap of $112.25 billion, a P/E ratio of 29.57, a P/E/G ratio of 2.51 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. During the same quarter last year, the business posted $1.20 EPS. The business’s revenue was up 3.4% on a year-over-year basis. On average, equities analysts expect that Medtronic plc will post 5.44 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on MDT. Citigroup upped their price target on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Stifel Nicolaus increased their target price on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and boosted their price target for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. JPMorgan Chase & Co. decreased their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Barclays boosted their target price on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and an average price target of $95.80.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.