Sabal Trust CO bought a new position in Medtronic PLC (NYSE:MDT) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 277,741 shares of the medical technology company’s stock, valued at approximately $21,600,000.

Several other hedge funds have also recently modified their holdings of MDT. Captrust Financial Advisors purchased a new position in Medtronic in the second quarter worth about $384,000. Wesbanco Bank Inc. grew its position in Medtronic by 3.1% in the second quarter. Wesbanco Bank Inc. now owns 10,170 shares of the medical technology company’s stock worth $903,000 after acquiring an additional 308 shares in the last quarter. Dupont Capital Management Corp grew its position in Medtronic by 28.8% in the second quarter. Dupont Capital Management Corp now owns 74,052 shares of the medical technology company’s stock worth $6,572,000 after acquiring an additional 16,562 shares in the last quarter. Chilton Investment Co. LLC grew its position in Medtronic by 6.1% in the second quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock worth $2,382,000 after acquiring an additional 1,538 shares in the last quarter. Finally, Moors & Cabot Inc. grew its position in Medtronic by 0.4% in the second quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock worth $3,842,000 after acquiring an additional 178 shares in the last quarter. 81.78% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Medtronic PLC (NYSE MDT) traded down $0.86 during trading hours on Friday, hitting $81.27. The company’s stock had a trading volume of 5,993,062 shares, compared to its average volume of 5,285,489. Medtronic PLC has a fifty-two week low of $69.35 and a fifty-two week high of $89.72. The stock has a market capitalization of $111,170.51, a price-to-earnings ratio of 17.70, a PEG ratio of 2.27 and a beta of 1.00. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50.

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

In other news, CEO Omar Ishrak sold 140,407 shares of Medtronic stock in a transaction that occurred on 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 $54,569,899.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The disclosure for this sale can be found here. Insiders have sold 172,407 shares of company stock valued at $13,974,223 in the last ninety days. Insiders own 0.31% of the company’s stock.

MDT has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $94.00 price target on shares of Medtronic in a research report on Thursday, November 9th. BidaskClub lowered Medtronic from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Zacks Investment Research lowered Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. SunTrust Banks set a $92.00 price target on Medtronic and gave the stock a “buy” rating in a research report on Sunday, November 19th. Finally, Royal Bank Of Canada dropped their price target on Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the stock. The company 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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