Sawgrass Asset Management LLC cut its holdings in shares of Medtronic plc. (NYSE:MDT) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,986 shares of the medical technology company’s stock after selling 1,495 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Medtronic were worth $2,098,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in MDT. Vanguard Group Inc. boosted its position in shares of Medtronic by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after acquiring an additional 2,454,380 shares in the last quarter. BlackRock Inc. boosted its position in shares of Medtronic by 6.4% during the 4th quarter. BlackRock Inc. now owns 94,595,580 shares of the medical technology company’s stock worth $7,638,592,000 after acquiring an additional 5,688,180 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Medtronic by 1.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 23,853,034 shares of the medical technology company’s stock worth $1,855,050,000 after acquiring an additional 269,814 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Medtronic by 43.8% during the 2nd quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after acquiring an additional 5,991,094 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Medtronic by 6.3% during the 4th quarter. Wells Fargo & Company MN now owns 13,159,777 shares of the medical technology company’s stock worth $1,062,652,000 after acquiring an additional 781,446 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors.
Several analysts recently issued reports on MDT shares. Bank of America upgraded shares of Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $92.00 target price on shares of Medtronic in a research report on Wednesday, February 14th. SunTrust Banks set a $92.00 target price on shares of Medtronic and gave the company a “buy” rating in a research report on Sunday, November 19th. Jefferies Group restated a “buy” rating and issued a $99.00 target price on shares of Medtronic in a research report on Thursday, November 23rd. Finally, Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Thursday, November 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $90.85.
Medtronic plc. (NYSE:MDT) opened at $80.39 on Friday. The company has a market cap of $108,949.43, a price-to-earnings ratio of 17.14, a PEG ratio of 2.23 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.05 and a current ratio of 2.43. Medtronic plc. has a fifty-two week low of $76.51 and a fifty-two week high of $89.72.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.01. The company had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.20 billion. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. Medtronic’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.12 earnings per share. research analysts forecast that Medtronic plc. will post 4.75 EPS for the current year.
In other news, VP Richard Kuntz sold 78,526 shares of Medtronic stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the transaction, the vice president now owns 149,761 shares in the company, valued at $12,910,895.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction on Friday, December 15th. The stock was sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the transaction, the executive vice president now owns 88,818 shares in the company, valued at approximately $7,355,906.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,684 shares of company stock worth $10,318,276. 0.31% of the stock is owned by company insiders.
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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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