KBC Group NV boosted its position in Medtronic PLC (NYSE:MDT) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 655,442 shares of the medical technology company’s stock after purchasing an additional 15,628 shares during the period. KBC Group NV’s holdings in Medtronic were worth $52,580,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. We Are One Seven LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at about $104,000. BB&T Investment Services Inc. increased its stake in shares of Medtronic by 147.6% in the fourth quarter. BB&T Investment Services Inc. now owns 1,518 shares of the medical technology company’s stock valued at $126,000 after buying an additional 905 shares during the period. Barrett Asset Management LLC increased its stake in shares of Medtronic by 856.0% in the fourth quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock valued at $147,000 after buying an additional 1,635 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Medtronic by 51.2% in the fourth quarter. Proficio Capital Partners LLC now owns 2,201 shares of the medical technology company’s stock valued at $178,000 after buying an additional 745 shares during the period. Finally, Bedel Financial Consulting Inc. acquired a new stake in shares of Medtronic in the first quarter valued at about $193,000. 80.37% of the stock is owned by institutional investors and hedge funds.
Get Medtronic alerts:MDT has been the subject of several recent research reports. Citigroup reissued a “buy” rating and issued a $93.00 price target (down previously from $100.00) on shares of Medtronic in a research note on Thursday, February 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 14th. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a research note on Tuesday, March 20th. Piper Jaffray Companies started coverage on Medtronic in a research note on Friday, April 27th. They set an “overweight” rating and a $90.00 target price for the company. Finally, Morgan Stanley decreased their target price on Medtronic from $95.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, March 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $91.39.
Shares of Medtronic opened at $84.64 on Monday, MarketBeat reports. The company has a market capitalization of $114.72 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 2.32 and a beta of 0.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.09 and a current ratio of 2.43. Medtronic PLC has a 52-week low of $76.41 and a 52-week high of $89.72.
Medtronic (NYSE:MDT) last announced its quarterly earnings results 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. The business had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.20 billion. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 earnings per share. equities research analysts anticipate that Medtronic PLC will post 4.74 earnings per share for the current year.
In other Medtronic news, Director James T. Lenehan sold 1,306 shares of the 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 document filed with the SEC, which is available at this hyperlink. Also, SVP Carol A. Surface sold 24,479 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $78.18, for a total value of $1,913,768.22. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate 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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