Kentucky Retirement Systems Insurance Trust Fund Sells 4,854 Shares of Medtronic plc (NYSE:MDT)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 11.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,974 shares of the medical technology company’s stock after selling 4,854 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Medtronic were worth $3,419,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC acquired a new stake in Medtronic in the third quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic in the third quarter valued at about $27,000. Lynx Investment Advisory bought a new position in shares of Medtronic during the second quarter worth about $28,000. Gleason Group Inc. acquired a new position in shares of Medtronic in the second quarter worth approximately $42,000. Finally, Opal Wealth Advisors LLC bought a new stake in Medtronic in the second quarter valued at approximately $43,000. 82.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MDT shares. Wells Fargo & Company boosted their price target on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Barclays upped their price target 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. Citigroup lifted their price objective on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Oppenheimer upped their target price on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. Finally, Robert W. Baird lifted their target price on Medtronic from $90.00 to $96.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus price target of $95.80.

Medtronic Stock Performance

Shares of MDT opened at $87.53 on Friday. Medtronic plc has a 1 year low of $74.20 and a 1 year high of $92.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The stock’s fifty day moving average price is $89.48 and its two-hundred day moving average price is $84.71. The firm has a market cap of $112.25 billion, a PE ratio of 29.57, a PEG ratio of 2.51 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its earnings results 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. The firm had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. On average, equities research analysts forecast that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Company 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.