Westwood Holdings Group Inc. Acquires New Position in Medtronic PLC (MDT)

Westwood Holdings Group Inc. acquired a new position in Medtronic PLC (NYSE:MDT) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,310,134 shares of the medical technology company’s stock, valued at approximately $105,098,000. Medtronic accounts for approximately 0.9% of Westwood Holdings Group Inc.’s holdings, making the stock its 27th biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of MDT. Gabelli Funds LLC raised its stake in shares of Medtronic by 48.0% in the fourth quarter. Gabelli Funds LLC now owns 112,500 shares of the medical technology company’s stock worth $9,084,000 after buying an additional 36,500 shares during the period. Gamco Investors INC. ET AL raised its stake in Medtronic by 23.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 29,314 shares of the medical technology company’s stock valued at $2,367,000 after purchasing an additional 5,494 shares during the period. Murphy Pohlad Asset Management LLC raised its stake in Medtronic by 1.8% during the 4th quarter. Murphy Pohlad Asset Management LLC now owns 60,562 shares of the medical technology company’s stock valued at $4,890,000 after purchasing an additional 1,100 shares during the period. Fort Pitt Capital Group LLC raised its stake in Medtronic by 2.7% during the 4th quarter. Fort Pitt Capital Group LLC now owns 437,725 shares of the medical technology company’s stock valued at $35,346,000 after purchasing an additional 11,410 shares during the period. Finally, Patten Group Inc. raised its stake in Medtronic by 8.9% during the 4th quarter. Patten Group Inc. now owns 25,516 shares of the medical technology company’s stock valued at $2,060,000 after purchasing an additional 2,079 shares during the period. 80.34% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the company. Needham & Company LLC lifted their target price on Medtronic from $97.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday. Oppenheimer set a $96.00 target price on Medtronic and gave the company a “buy” rating in a research note on Wednesday. William Blair assumed coverage on Medtronic in a research note on Wednesday. They set a “market perform” rating on the stock. Piper Jaffray Companies lifted their target price on Medtronic to $96.00 and gave the company an “overweight” rating in a research note on Friday, May 25th. Finally, TheStreet raised Medtronic from a “c+” rating to a “b-” rating in a research note on Monday, May 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company. Medtronic currently has a consensus rating of “Buy” and an average target price of $92.82.

NYSE MDT opened at $87.24 on Thursday. The company has a market cap of $117.46 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 2.32 and a beta of 0.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.92. Medtronic PLC has a 1-year low of $76.41 and a 1-year high of $89.72.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Thursday, May 24th. The medical technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8 billion. Medtronic had a return on equity of 12.84% and a net margin of 10.36%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 EPS. research analysts forecast that Medtronic PLC will post 5.11 EPS for the current fiscal year.

In other news, Director James T. Lenehan sold 1,306 shares of Medtronic stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $83.56, for a total value of $109,129.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by insiders.

Medtronic Company Profile

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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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