Colony Group LLC lowered its position in shares of Medtronic PLC (NYSE:MDT) by 3.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 181,775 shares of the medical technology company’s stock after selling 5,977 shares during the period. Medtronic PLC comprises 1.7% of Colony Group LLC’s holdings, making the stock its 9th largest position. Colony Group LLC’s holdings in Medtronic PLC were worth $15,705,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Marvin & Palmer Associates Inc. boosted its stake in Medtronic PLC by 33.0% in the third quarter. Marvin & Palmer Associates Inc. now owns 31,100 shares of the medical technology company’s stock worth $2,700,000 after buying an additional 7,725 shares during the period. Mosaic Family Wealth LLC boosted its stake in Medtronic PLC by 2.9% in the third quarter. Mosaic Family Wealth LLC now owns 5,000 shares of the medical technology company’s stock worth $432,000 after buying an additional 141 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in Medtronic PLC by 189.4% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,202 shares of the medical technology company’s stock worth $190,000 after buying an additional 1,441 shares during the period. Cognios Capital LLC boosted its stake in Medtronic PLC by 16.6% in the third quarter. Cognios Capital LLC now owns 32,605 shares of the medical technology company’s stock worth $2,817,000 after buying an additional 4,648 shares during the period. Finally, Robecosam AG boosted its stake in Medtronic PLC by 2.0% in the third quarter. Robecosam AG now owns 64,252 shares of the medical technology company’s stock worth $5,487,000 after buying an additional 1,280 shares during the period. 82.71% of the stock is currently owned by institutional investors.
Medtronic PLC (NYSE:MDT) opened at 76.15 on Monday. The firm has a market cap of $104.56 billion, a price-to-earnings ratio of 25.36 and a beta of 0.97. The firm’s 50-day moving average is $74.23 and its 200-day moving average is $80.64. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.27.
Medtronic PLC (NYSE:MDT) last issued its earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.11 by $0.01. The company earned $7.35 billion during the quarter, compared to analysts’ expectations of $7.46 billion. Medtronic PLC had a net margin of 14.63% and a return on equity of 12.36%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 EPS. Analysts forecast that Medtronic PLC will post $4.56 EPS for the current fiscal year.
A number of research firms have recently weighed in on MDT. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price target on shares of Medtronic PLC in a report on Monday, February 6th. Vetr cut Medtronic PLC from a “strong-buy” rating to a “buy” rating and set a $81.00 target price on the stock. in a report on Monday, January 23rd. Deutsche Bank AG set a $96.00 target price on Medtronic PLC and gave the stock a “buy” rating in a report on Sunday, January 8th. Zacks Investment Research raised Medtronic PLC from a “sell” rating to a “hold” rating in a report on Thursday, January 5th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Medtronic PLC in a report on Tuesday, January 3rd. Nine investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $86.70.
In related news, Director James T. Lenehan purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were bought at an average cost of $73.27 per share, with a total value of $146,540.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert C. Pozen purchased 13,660 shares of the firm’s stock in a transaction that occurred on Tuesday, December 13th. The shares were bought at an average cost of $73.21 per share, for a total transaction of $1,000,048.60. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by insiders.
Medtronic PLC Company Profile
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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