Korea Investment CORP reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 5.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,272,072 shares of the medical technology company’s stock after selling 73,816 shares during the quarter. Korea Investment CORP owned 0.09% of Medtronic worth $98,929,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in Medtronic by 2,513.4% in the first quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock worth $7,011,571,000 after buying an additional 83,705,052 shares during the period. Lazard Asset Management LLC lifted its holdings in Medtronic by 1,061.4% in the first quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock worth $1,101,960,000 after buying an additional 12,500,992 shares during the period. Vanguard Group Inc. lifted its holdings in Medtronic by 4.5% in the first quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock worth $8,243,034,000 after buying an additional 4,412,536 shares during the period. Alliancebernstein L.P. lifted its holdings in Medtronic by 135.5% in the second quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock worth $538,727,000 after buying an additional 3,493,058 shares during the period. Finally, Sanders Capital LLC lifted its holdings in shares of Medtronic by 43.7% during the second quarter. Sanders Capital LLC now owns 6,670,948 shares of the medical technology company’s stock valued at $651,800,000 after purchasing an additional 2,027,147 shares during the last quarter. 81.85% of the stock is currently owned by hedge funds and other institutional investors.
Medtronic PLC (NYSE MDT) traded up $1.05 during trading hours on Wednesday, reaching $80.92. 5,392,200 shares of the company’s stock were exchanged, compared to its average volume of 4,959,266. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. Medtronic PLC has a fifty-two week low of $69.35 and a fifty-two week high of $89.72. The company has a market cap of $108,103.88, a P/E ratio of 17.21, a PEG ratio of 2.20 and a beta of 1.00.
In related news, CEO Omar Ishrak sold 140,407 shares of Medtronic stock in a transaction 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 transaction, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction on Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,407 shares of company stock valued at $13,974,223. Insiders own 0.31% of the company’s stock.
Several equities analysts have recently issued reports on MDT shares. Needham & Company LLC reiterated a “buy” rating and set a $94.00 target price on shares of Medtronic in a report on Thursday, November 9th. BidaskClub lowered shares of Medtronic from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Zacks Investment Research lowered shares of Medtronic from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. SunTrust Banks set a $92.00 target price on shares of Medtronic and gave the company a “buy” rating in a report on Sunday, November 19th. Finally, Royal Bank Of Canada lowered their target price on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average 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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