Jupiter Asset Management Ltd. reduced its stake in Medtronic PLC (NYSE:MDT) by 15.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 289,224 shares of the medical technology company’s stock after selling 51,715 shares during the period. Medtronic makes up about 0.8% of Jupiter Asset Management Ltd.’s holdings, making the stock its 27th largest holding. Jupiter Asset Management Ltd.’s holdings in Medtronic were worth $28,451,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ballew Advisors Inc purchased a new position in shares of Medtronic during the second quarter worth about $100,000. Fort L.P. purchased a new position in shares of Medtronic during the second quarter worth about $121,000. Polaris Greystone Financial Group LLC grew its holdings in shares of Medtronic by 255.1% during the third quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock worth $130,000 after buying an additional 949 shares during the last quarter. Trustcore Financial Services LLC grew its holdings in shares of Medtronic by 97.3% during the second quarter. Trustcore Financial Services LLC now owns 1,760 shares of the medical technology company’s stock worth $151,000 after buying an additional 868 shares during the last quarter. Finally, Hartford Financial Management Inc. purchased a new position in shares of Medtronic during the second quarter worth about $164,000. Institutional investors and hedge funds own 79.56% of the company’s stock.

In other Medtronic news, EVP Geoffrey Martha sold 49,799 shares of Medtronic stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $97.93, for a total value of $4,876,816.07. Following the completion of the sale, the executive vice president now directly owns 87,872 shares of the company’s stock, valued at approximately $8,605,304.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael J. Coyle sold 145,544 shares of Medtronic stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $95.50, for a total transaction of $13,899,452.00. Following the completion of the sale, the executive vice president now directly owns 190,680 shares of the company’s stock, valued at $18,209,940. The disclosure for this sale can be found here. Insiders sold a total of 268,678 shares of company stock valued at $25,818,353 over the last ninety days. 0.28% of the stock is owned by corporate insiders.

A number of equities analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Medtronic to $109.00 and gave the stock an “outperform” rating in a report on Wednesday, October 3rd. Oppenheimer reissued a “buy” rating on shares of Medtronic in a report on Friday, September 21st. Argus raised their price target on Medtronic from $108.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 8th. ValuEngine raised Medtronic from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Finally, Zacks Investment Research raised Medtronic from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $102.58.

MDT stock opened at $93.70 on Monday. The company has a market capitalization of $126.54 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 2.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.46 and a quick ratio of 2.06. Medtronic PLC has a one year low of $76.41 and a one year high of $100.15.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 21st. The medical technology company reported $1.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.06. The firm had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $7.24 billion. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. Medtronic’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 EPS. As a group, sell-side analysts expect that Medtronic PLC will post 5.12 EPS for the current year.

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About Medtronic

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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