Victory Capital Management Inc. cut its position in Medtronic PLC (NYSE:MDT) by 16.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 674,612 shares of the medical technology company’s stock after selling 132,185 shares during the period. Victory Capital Management Inc.’s holdings in Medtronic PLC were worth $58,286,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MDT. Boothbay Fund Management LLC increased its position in shares of Medtronic PLC by 30.4% in the first quarter. Boothbay Fund Management LLC now owns 3,657 shares of the medical technology company’s stock valued at $274,000 after buying an additional 852 shares in the last quarter. Kistler Tiffany Companies LLC increased its position in shares of Medtronic PLC by 2.1% in the second quarter. Kistler Tiffany Companies LLC now owns 1,776 shares of the medical technology company’s stock valued at $154,000 after buying an additional 36 shares in the last quarter. Deane Retirement Strategies Inc. purchased a new position in shares of Medtronic PLC during the second quarter valued at $2,505,000. Howland Capital Management LLC increased its position in shares of Medtronic PLC by 1.2% in the second quarter. Howland Capital Management LLC now owns 178,789 shares of the medical technology company’s stock valued at $15,514,000 after buying an additional 2,139 shares in the last quarter. Finally, Thompson Rubinstein Investment Management Inc. OR increased its position in shares of Medtronic PLC by 1.3% in the second quarter. Thompson Rubinstein Investment Management Inc. OR now owns 50,693 shares of the medical technology company’s stock valued at $4,399,000 after buying an additional 665 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors.

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

Shares of Medtronic PLC (NYSE:MDT) opened at 74.26 on Tuesday. The firm’s 50 day moving average is $81.50 and its 200 day moving average is $84.68. Medtronic PLC has a 52-week low of $71.03 and a 52-week high of $89.27. The stock has a market capitalization of $102.48 billion, a price-to-earnings ratio of 24.73 and a beta of 1.01.

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

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Several brokerages have weighed in on MDT. Evercore ISI reaffirmed a “buy” rating and set a $80.00 price target (down previously from $94.00) on shares of Medtronic PLC in a report on Monday. Oppenheimer Holdings Inc. lowered their price target on shares of Medtronic PLC from $94.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, November 23rd. Jefferies Group lowered their price target on shares of Medtronic PLC from $100.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, November 23rd. Barclays PLC lowered their price target on shares of Medtronic PLC from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, November 23rd. Finally, BMO Capital Markets lowered their price target on shares of Medtronic PLC from $94.00 to $87.00 and set an “outperform” rating on the stock in a report on Wednesday, November 23rd. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $88.19.

In other news, CEO Omar Ishrak sold 61,925 shares of Medtronic PLC stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $84.93, for a total transaction of $5,259,290.25. Following the transaction, the chief executive officer now owns 565,916 shares in the company, valued at approximately $48,063,245.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James T. Lenehan purchased 2,000 shares of Medtronic PLC stock in a transaction dated Wednesday, November 23rd. The shares were bought at an average price of $73.27 per share, for a total transaction of $146,540.00. The disclosure for this purchase can be found here. Insiders own 0.25% of the company’s stock.

Medtronic PLC 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.

5 Day Chart for NYSE:MDT

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