Angeles Wealth Management LLC purchased a new stake in shares of Medtronic plc (NYSE:MDT – Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,311 shares of the medical technology company’s stock, valued at approximately $204,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in MDT. Illinois Municipal Retirement Fund grew its stake in Medtronic by 307.2% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 119,389 shares of the medical technology company’s stock valued at $10,518,000 after purchasing an additional 90,068 shares during the last quarter. Toronto Dominion Bank boosted its position in Medtronic by 109.0% in the first quarter. Toronto Dominion Bank now owns 802,643 shares of the medical technology company’s stock valued at $64,674,000 after buying an additional 418,648 shares during the last quarter. Trust Co. of Toledo NA OH increased its holdings in Medtronic by 20.6% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 17,220 shares of the medical technology company’s stock worth $1,517,000 after buying an additional 2,940 shares during the period. Viawealth LLC raised its position in Medtronic by 3.3% during the 1st quarter. Viawealth LLC now owns 12,085 shares of the medical technology company’s stock worth $974,000 after buying an additional 390 shares during the last quarter. Finally, Argent Trust Co raised its position in Medtronic by 5.0% during the 1st quarter. Argent Trust Co now owns 40,743 shares of the medical technology company’s stock worth $3,285,000 after buying an additional 1,948 shares during the last quarter. Hedge funds and other institutional investors own 80.75% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. Oppenheimer reiterated a “market perform” rating and issued a $89.00 price objective on shares of Medtronic in a research note on Wednesday, August 23rd. StockNews.com assumed coverage on Medtronic in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Mizuho boosted their price objective on Medtronic from $95.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, August 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $89.00 target price on shares of Medtronic in a report on Wednesday, August 23rd. Finally, UBS Group lifted their price target on Medtronic from $79.00 to $82.00 and gave the company a “sell” rating in a research report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and an average price target of $91.94.
Insider Buying and Selling at Medtronic
In other Medtronic news, EVP Gregory L. Smith sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $83.84, for a total transaction of $838,400.00. Following the sale, the executive vice president now directly owns 46,723 shares in the company, valued at $3,917,256.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.
Medtronic Price Performance
Shares of NYSE MDT opened at $74.76 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.79 and a current ratio of 2.42. The firm has a fifty day moving average of $75.20 and a 200 day moving average of $82.01. The firm has a market cap of $99.47 billion, a PE ratio of 27.59, a PEG ratio of 2.63 and a beta of 0.71. Medtronic plc has a one year low of $68.84 and a one year high of $92.02.
Medtronic (NYSE:MDT – Get Free Report) last released its earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.57 billion. Medtronic had a net margin of 11.47% and a return on equity of 13.81%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.13 earnings per share. As a group, research analysts predict that Medtronic plc will post 5.12 EPS for the current fiscal 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.
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