Medtronic PLC (MDT) Stake Increased by National Asset Management Inc.

National Asset Management Inc. grew its holdings in Medtronic PLC (NYSE:MDT) by 11.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,492 shares of the medical technology company’s stock after buying an additional 1,078 shares during the period. National Asset Management Inc.’s holdings in Medtronic were worth $933,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MDT. Hudock Capital Group LLC lifted its holdings in Medtronic by 0.5% during the 2nd quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock worth $194,000 after purchasing an additional 11 shares during the last quarter. Bollard Group LLC lifted its holdings in Medtronic by 0.4% during the 2nd quarter. Bollard Group LLC now owns 3,651 shares of the medical technology company’s stock worth $324,000 after purchasing an additional 14 shares during the last quarter. Triangle Securities Wealth Management lifted its holdings in Medtronic by 0.3% during the 2nd quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock worth $390,000 after purchasing an additional 15 shares during the last quarter. IFC Holdings Incorporated FL lifted its holdings in Medtronic by 0.3% during the 2nd quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock worth $501,000 after purchasing an additional 17 shares during the last quarter. Finally, Arcus Capital Partners LLC lifted its holdings in Medtronic by 0.8% during the 2nd quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock worth $288,000 after purchasing an additional 25 shares during the last quarter. 81.14% of the stock is owned by institutional investors.

Several brokerages have weighed in on MDT. Northland Securities reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Medtronic in a report on Wednesday. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $96.00 price objective on shares of Medtronic in a report on Monday, October 2nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $99.00 price objective on shares of Medtronic in a report on Thursday. BidaskClub raised Medtronic from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Medtronic in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the stock. Medtronic presently has a consensus rating of “Hold” and an average price target of $88.02.

In related news, CEO Omar Ishrak sold 140,407 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the sale, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $78.03, for a total value of $1,248,480.00. The disclosure for this sale can be found here. Insiders have sold a total of 172,407 shares of company stock worth $13,974,223 in the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Shares of Medtronic PLC (NYSE:MDT) opened at $83.25 on Friday. The firm has a market capitalization of $112,686.54, a price-to-earnings ratio of 17.94, a P/E/G ratio of 2.20 and a beta of 1.00. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The company has a current ratio of 2.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. Medtronic’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS. analysts forecast that Medtronic PLC will post 4.77 earnings per share for the current fiscal year.

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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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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