Norinchukin Bank The raised its stake in Medtronic plc. (NYSE:MDT) by 3.7% in the 4th quarter, Holdings Channel reports. The firm owned 202,928 shares of the medical technology company’s stock after buying an additional 7,270 shares during the quarter. Norinchukin Bank The’s holdings in Medtronic were worth $16,386,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Blue Chip Partners Inc. purchased a new stake in shares of Medtronic during the third quarter valued at approximately $118,000. Quadrant Capital Group LLC increased its position in shares of Medtronic by 21.5% during the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after acquiring an additional 290 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Medtronic during the second quarter valued at approximately $151,000. Almanack Investment Partners LLC. purchased a new stake in shares of Medtronic during the second quarter valued at approximately $154,000. Finally, Barrett Asset Management LLC increased its position in shares of Medtronic by 856.0% during the fourth quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock valued at $147,000 after acquiring an additional 1,635 shares during the last quarter. 79.83% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Hooman Hakami sold 26,158 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $85.00, for a total value of $2,223,430.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard Kuntz sold 78,526 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the completion of the transaction, the vice president now directly owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The disclosure for this sale can be found here. Insiders sold 120,684 shares of company stock valued at $10,318,276 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.
Medtronic plc. (NYSE:MDT) opened at $80.39 on Friday. Medtronic plc. has a twelve month low of $76.51 and a twelve month high of $89.72. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.43 and a quick ratio of 2.05. The company has a market capitalization of $108,980.00, a price-to-earnings ratio of 22.09, a PEG ratio of 2.23 and a beta of 0.93.
Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.01. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. The firm had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same period last year, the company earned $1.12 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. research analysts anticipate that Medtronic plc. will post 4.76 EPS for the current fiscal year.
MDT has been the subject of a number of research analyst reports. Bank of America raised Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 14th. SunTrust Banks set a $92.00 price objective on Medtronic and gave the company a “buy” rating in a report on Sunday, November 19th. Jefferies Group reissued a “buy” rating and set a $99.00 price objective on shares of Medtronic in a report on Thursday, November 23rd. Finally, Zacks Investment Research raised Medtronic from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. Medtronic currently has an average rating of “Buy” and a consensus price target of $90.85.
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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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