Martin & Co. Inc. TN cut its position in Medtronic plc (NYSE:MDT – Free Report) by 5.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,333 shares of the medical technology company’s stock after selling 495 shares during the period. Martin & Co. Inc. TN’s holdings in Medtronic were worth $734,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Sageworth Trust Co acquired a new position in Medtronic in the first quarter worth $26,000. Laurel Wealth Advisors LLC lifted its position in Medtronic by 250.0% during the 1st quarter. Laurel Wealth Advisors LLC now owns 350 shares of the medical technology company’s stock worth $28,000 after buying an additional 250 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Medtronic by 48.9% during the 2nd quarter. Venturi Wealth Management LLC now owns 344 shares of the medical technology company’s stock worth $30,000 after acquiring an additional 113 shares during the last quarter. Trivant Custom Portfolio Group LLC acquired a new stake in Medtronic in the 1st quarter valued at about $31,000. Finally, Certified Advisory Corp bought a new position in shares of Medtronic in the first quarter worth about $31,000. 80.75% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research analysts recently weighed in on MDT shares. UBS Group boosted their price objective on shares of Medtronic from $79.00 to $82.00 and gave the stock a “sell” rating in a research report on Wednesday, August 23rd. Mizuho raised their price target on Medtronic from $95.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, August 23rd. Stifel Nicolaus boosted their price objective on Medtronic from $92.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Wells Fargo & Company raised their target price on shares of Medtronic from $100.00 to $102.00 and gave the company an “overweight” rating in a research note on Wednesday, August 23rd. Finally, StockNews.com assumed coverage on shares of Medtronic in a research note on Thursday, October 5th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $91.94.
Insider Buying and Selling at Medtronic
In related news, EVP Gregory L. Smith sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $83.84, for a total value of $838,400.00. Following the sale, the executive vice president now directly owns 46,723 shares of the company’s stock, valued at approximately $3,917,256.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.
Medtronic Stock Performance
Shares of Medtronic stock opened at $75.16 on Tuesday. The stock’s fifty day simple moving average is $75.08 and its 200 day simple moving average is $81.85. The company has a current ratio of 2.42, a quick ratio of 1.79 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $100.00 billion, a PE ratio of 27.73, a PEG ratio of 2.63 and a beta of 0.71. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $92.02.
Medtronic (NYSE:MDT – Get Free Report) last released its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Medtronic had a return on equity of 13.81% and a net margin of 11.47%. The company had revenue of $7.98 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter last year, the firm posted $1.30 earnings per share. Medtronic’s revenue was up 5.3% compared to the same quarter last year. On average, research analysts predict that Medtronic plc will post 5.12 EPS for the current year.
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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