Pinebridge Investments L.P. increased its position in shares of Medtronic plc. (NYSE:MDT) by 29.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 163,396 shares of the medical technology company’s stock after purchasing an additional 36,842 shares during the quarter. Pinebridge Investments L.P.’s holdings in Medtronic were worth $13,194,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Blue Chip Partners Inc. purchased a new stake in shares of Medtronic during the 3rd quarter valued at approximately $118,000. Quadrant Capital Group LLC increased its holdings in Medtronic by 21.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after acquiring an additional 290 shares during the period. Westwood Holdings Group Inc. bought a new stake in Medtronic during the 2nd quarter worth approximately $151,000. Almanack Investment Partners LLC. bought a new stake in Medtronic during the 2nd quarter worth approximately $154,000. Finally, Barrett Asset Management LLC increased its holdings in Medtronic by 856.0% during the 4th quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock worth $147,000 after acquiring an additional 1,635 shares during the period. Institutional investors and hedge funds own 79.83% of the company’s stock.
MDT has been the topic of a number of analyst reports. Bank of America raised shares of Medtronic from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a report on Thursday, December 21st. SunTrust Banks set a $92.00 target price on shares of Medtronic and gave the stock a “buy” rating in a report on Sunday, November 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $94.00 target price on shares of Medtronic in a report on Thursday, November 9th. Finally, Cowen reaffirmed a “buy” rating and set a $95.00 target price on shares of Medtronic in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. Medtronic presently has a consensus rating of “Buy” and a consensus price target of $90.45.
Medtronic plc. (NYSE MDT) opened at $83.31 on Monday. The company has a market cap of $112,759.91, a price-to-earnings ratio of 17.95, a P/E/G ratio of 2.29 and a beta of 0.93. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50. Medtronic plc. has a twelve month low of $76.51 and a twelve month high of $89.72.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.12 EPS. research analysts forecast that Medtronic plc. will post 4.76 earnings per share for the current year.
In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the completion of the sale, the executive vice president now owns 88,818 shares of the company’s stock, valued at approximately $7,355,906.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Hooman Hakami sold 26,158 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $85.00, for a total transaction of $2,223,430.00. The disclosure for this sale can be found here. Insiders have sold a total of 120,684 shares of company stock valued at $10,318,276 in the last three months. 0.31% of the stock is currently owned by corporate insiders.
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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