Community Trust & Investment Co. lowered its stake in Medtronic PLC (NYSE:MDT) by 4.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 234,444 shares of the medical technology company’s stock after selling 11,125 shares during the period. Medtronic PLC makes up about 2.6% of Community Trust & Investment Co.’s portfolio, making the stock its 8th largest position. Community Trust & Investment Co.’s holdings in Medtronic PLC were worth $20,256,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Franklin Street Advisors Inc. NC increased its stake in shares of Medtronic PLC by 19.1% in the second quarter. Franklin Street Advisors Inc. NC now owns 92,478 shares of the medical technology company’s stock worth $8,024,000 after buying an additional 14,814 shares in the last quarter. Webster Bank N. A. increased its stake in shares of Medtronic PLC by 0.6% in the second quarter. Webster Bank N. A. now owns 8,800 shares of the medical technology company’s stock worth $763,000 after buying an additional 51 shares in the last quarter. Perkins Coie Trust Co increased its stake in shares of Medtronic PLC by 0.9% in the second quarter. Perkins Coie Trust Co now owns 24,758 shares of the medical technology company’s stock worth $2,149,000 after buying an additional 210 shares in the last quarter. American National Bank increased its stake in shares of Medtronic PLC by 4.4% in the second quarter. American National Bank now owns 60,455 shares of the medical technology company’s stock worth $5,246,000 after buying an additional 2,545 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its stake in shares of Medtronic PLC by 1.0% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,300,067 shares of the medical technology company’s stock worth $112,807,000 after buying an additional 12,703 shares in the last quarter. 81.25% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

Shares of Medtronic PLC (NYSE:MDT) traded down 0.34% during midday trading on Friday, hitting $75.52. 3,045,998 shares of the stock were exchanged. The stock has a market cap of $104.36 billion, a P/E ratio of 29.39 and a beta of 1.01. Medtronic PLC has a one year low of $71.03 and a one year high of $89.27. The stock’s 50-day moving average price is $81.84 and its 200 day moving average price is $84.68.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.01. Medtronic PLC had a net margin of 14.63% and a return on equity of 12.36%. The company earned $7.35 billion during the quarter, compared to the consensus estimate of $7.46 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts anticipate that Medtronic PLC will post $4.63 earnings per share for the current year.

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MDT has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Medtronic PLC from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a research report on Tuesday, August 9th. Citigroup Inc. initiated coverage on shares of Medtronic PLC in a research report on Tuesday, August 23rd. They issued a “buy” rating and a $102.00 price objective on the stock. Cowen and Company set a $94.00 price objective on shares of Medtronic PLC and gave the company a “buy” rating in a research report on Tuesday, August 23rd. Jefferies Group restated a “buy” rating and issued a $93.00 target price on shares of Medtronic PLC in a report on Thursday, August 25th. Finally, Credit Suisse Group AG restated an “outperform” rating and issued a $92.00 target price on shares of Medtronic PLC in a report on Thursday, August 25th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $88.47.

In related news, EVP Bryan C. Hanson sold 15,000 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $87.00, for a total value of $1,305,000.00. Following the completion of the sale, the executive vice president now owns 168,192 shares of the company’s stock, valued at $14,632,704. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James T. Lenehan acquired 2,000 shares of Medtronic PLC stock in a transaction that occurred on Wednesday, November 23rd. The stock was bought at an average cost of $73.27 per share, with a total value of $146,540.00. The disclosure for this purchase can be found here. Insiders own 0.25% of the company’s stock.

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.

5 Day Chart for NYSE:MDT

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