WealthPLAN Partners LLC lifted its position in Medtronic PLC (NYSE:MDT) by 11.3% during the 1st quarter, Holdings Channel reports. The firm owned 45,071 shares of the medical technology company’s stock after buying an additional 4,585 shares during the quarter. WealthPLAN Partners LLC’s holdings in Medtronic were worth $3,978,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of MDT. Cordasco Financial Network bought a new stake in shares of Medtronic in the 1st quarter worth about $27,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of Medtronic by 158.0% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock worth $34,000 after purchasing an additional 226 shares during the last quarter. Spectrum Management Group Inc. grew its holdings in shares of Medtronic by 353.8% in the 1st quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 322 shares during the last quarter. Mackey Komara & Dankovich LLC bought a new stake in shares of Medtronic in the 1st quarter worth about $38,000. Finally, Capital Financial Planning LLC bought a new stake in shares of Medtronic in the 4th quarter worth about $42,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.
NYSE:MDT traded down $0.19 during mid-day trading on Monday, reaching $97.31. 9,198 shares of the company were exchanged, compared to its average volume of 5,822,811. Medtronic PLC has a 12 month low of $81.66 and a 12 month high of $100.15. The company has a quick ratio of 2.15, a current ratio of 2.59 and a debt-to-equity ratio of 0.49. The firm has a market cap of $130.76 billion, a P/E ratio of 18.66, a P/E/G ratio of 2.51 and a beta of 0.68.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.07. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.12 billion. During the same quarter in the prior year, the firm earned $1.42 EPS. The company’s revenue was up .0% on a year-over-year basis. As a group, equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.
In other Medtronic news, EVP Hooman Hakami sold 52,664 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $97.49, for a total transaction of $5,134,213.36. Following the transaction, the executive vice president now directly owns 95,337 shares in the company, valued at approximately $9,294,404.13. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Geoffrey Martha sold 11,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $96.05, for a total transaction of $1,056,550.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,664 shares of company stock worth $7,017,683. Corporate insiders own 0.28% of the company’s stock.
Several research firms have recently weighed in on MDT. Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $121.00 target price on shares of Medtronic in a report on Monday, May 27th. Royal Bank of Canada decreased their price objective on shares of Medtronic to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. UBS Group increased their price objective on shares of Medtronic to $112.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wells Fargo & Co raised shares of Medtronic from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $100.00 to $110.00 in a report on Tuesday, June 4th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Medtronic has a consensus rating of “Buy” and a consensus target price of $103.95.
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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