AGF Investments Inc. reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 6.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,885 shares of the medical technology company’s stock after selling 4,162 shares during the period. AGF Investments Inc.’s holdings in Medtronic were worth $5,454,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Reynders McVeigh Capital Management LLC grew its position in shares of Medtronic by 2.6% in the first quarter. Reynders McVeigh Capital Management LLC now owns 6,292 shares of the medical technology company’s stock valued at $573,000 after purchasing an additional 161 shares during the last quarter. Bluestein R H & Co. grew its position in shares of Medtronic by 7.9% in the first quarter. Bluestein R H & Co. now owns 296,180 shares of the medical technology company’s stock valued at $26,976,000 after purchasing an additional 21,697 shares during the last quarter. Bank of Hawaii grew its position in shares of Medtronic by 589.6% in the first quarter. Bank of Hawaii now owns 25,323 shares of the medical technology company’s stock valued at $2,306,000 after purchasing an additional 21,651 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of Medtronic in the first quarter valued at about $216,000. Finally, Swiss National Bank grew its position in shares of Medtronic by 2.2% in the first quarter. Swiss National Bank now owns 5,096,663 shares of the medical technology company’s stock valued at $464,204,000 after purchasing an additional 109,600 shares during the last quarter. Institutional investors own 80.10% of the company’s stock.
MDT has been the topic of several research analyst reports. Zacks Investment Research downgraded Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Wells Fargo & Co lowered their price target on Medtronic from $101.00 to $100.00 and set a “market perform” rating on the stock in a research report on Thursday, April 4th. Oppenheimer set a $104.00 price target on Medtronic and gave the company a “buy” rating in a research report on Wednesday, February 20th. Northland Securities reaffirmed a “hold” rating and issued a $84.00 price target on shares of Medtronic in a research report on Monday, March 18th. Finally, Citigroup raised their price target on Medtronic from $95.00 to $101.00 and gave the company a “neutral” rating in a research report on Monday, February 25th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Medtronic presently has an average rating of “Buy” and a consensus price target of $103.95.
NYSE MDT opened at $97.53 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.15 and a current ratio of 2.59. The company has a market cap of $130.24 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 2.50 and a beta of 0.68. Medtronic PLC has a 1-year low of $81.66 and a 1-year high of $100.15.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.07. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.12 billion. During the same quarter in the previous year, the business earned $1.42 EPS. The firm’s revenue was up .0% on a year-over-year basis. On average, sell-side analysts predict that Medtronic PLC will post 5.46 EPS for the current year.
In related news, EVP Geoffrey Martha sold 11,000 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $96.05, for a total value of $1,056,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard H. Anderson bought 10,900 shares of Medtronic stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average cost of $92.40 per share, with a total value of $1,007,160.00. Following the completion of the purchase, the director now owns 89,912 shares in the company, valued at approximately $8,307,868.80. The disclosure for this purchase can be found here. 0.28% of the stock is owned by insiders.
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Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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