CLARET ASSET MANAGEMENT Corp cut its holdings in shares of Medtronic (NYSE:MDT) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,738 shares of the medical technology company’s stock after selling 667 shares during the quarter. CLARET ASSET MANAGEMENT Corp’s holdings in Medtronic were worth $4,872,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. We Are One Seven LLC acquired a new position in shares of Medtronic during the fourth quarter worth approximately $104,000. BB&T Investment Services Inc. lifted its holdings in shares of Medtronic by 147.6% during the fourth quarter. BB&T Investment Services Inc. now owns 1,518 shares of the medical technology company’s stock worth $126,000 after buying an additional 905 shares during the last quarter. Barrett Asset Management LLC lifted its holdings 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 worth $147,000 after buying an additional 1,635 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Medtronic by 51.2% during the fourth quarter. Proficio Capital Partners LLC now owns 2,201 shares of the medical technology company’s stock worth $178,000 after buying an additional 745 shares during the last quarter. Finally, Bedel Financial Consulting Inc. acquired a new position in shares of Medtronic during the first quarter worth approximately $193,000. Institutional investors own 81.79% of the company’s stock.
Medtronic stock opened at $85.11 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.43 and a quick ratio of 2.09. Medtronic has a 52-week low of $84.58 and a 52-week high of $85.59. The firm has a market cap of $114.35 billion, a price-to-earnings ratio of 18.50, a P/E/G ratio of 2.32 and a beta of 0.94.
Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, topping the 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 in the prior year, the company posted $1.12 earnings per share. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. equities analysts anticipate that Medtronic will post 4.74 EPS for the current fiscal year.
In other Medtronic news, SVP Carol A. Surface sold 24,479 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $78.18, for a total transaction of $1,913,768.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James T. Lenehan sold 1,306 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $83.56, for a total value of $109,129.36. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.
A number of research analysts recently commented on MDT shares. Oppenheimer set a $94.00 target price on Medtronic and gave the company a “buy” rating in a research note on Friday, January 19th. Morgan Stanley upped their target price on Medtronic from $91.00 to $95.00 and gave the company an “equal weight” rating in a research note on Monday, February 5th. Royal Bank of Canada restated an “outperform” rating and issued a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 14th. TheStreet lowered Medtronic from a “b” rating to a “c+” rating in a research note on Tuesday, February 20th. Finally, Citigroup restated a “buy” rating and issued a $93.00 target price (down from $100.00) on shares of Medtronic in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company. Medtronic presently has an average rating of “Buy” and an average price target of $91.39.
Medtronic plc manufactures and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. The company's Cardiac and Vascular Group segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; diagnostics and monitoring devices; mechanical circulatory support, TYRX, and AF products; and remote monitoring and patient-centered software.
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