Medtronic plc. (MDT) Position Increased by Perennial Advisors LLC

Perennial Advisors LLC boosted its position in Medtronic plc. (NYSE:MDT) by 8.0% during the first quarter, Holdings Channel reports. The fund owned 28,272 shares of the medical technology company’s stock after buying an additional 2,094 shares during the period. Medtronic plc. makes up approximately 1.8% of Perennial Advisors LLC’s holdings, making the stock its 23rd largest position. Perennial Advisors LLC’s holdings in Medtronic plc. were worth $2,278,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Martin Investment Management LLC increased its stake in shares of Medtronic plc. by 4.6% in the third quarter. Martin Investment Management LLC now owns 123,341 shares of the medical technology company’s stock worth $10,657,000 after buying an additional 5,370 shares during the last quarter. Appleton Partners Inc. MA increased its stake in shares of Medtronic plc. by 3.2% in the third quarter. Appleton Partners Inc. MA now owns 93,282 shares of the medical technology company’s stock worth $8,060,000 after buying an additional 2,906 shares during the last quarter. KBC Group NV increased its stake in shares of Medtronic plc. by 44.3% in the third quarter. KBC Group NV now owns 589,707 shares of the medical technology company’s stock worth $50,951,000 after buying an additional 180,926 shares during the last quarter. Winch Advisory Services LLC bought a new stake in shares of Medtronic plc. during the third quarter worth $2,922,000. Finally, Quantitative Investment Management LLC increased its stake in shares of Medtronic plc. by 65.3% in the third quarter. Quantitative Investment Management LLC now owns 237,200 shares of the medical technology company’s stock worth $20,494,000 after buying an additional 93,700 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Medtronic plc. (NYSE:MDT)

Shares of Medtronic plc. (NYSE:MDT) traded up 1.04% on Thursday, reaching $85.58. The company had a trading volume of 7,210,611 shares. The company’s 50-day moving average price is $82.31 and its 200 day moving average price is $78.46. The firm has a market capitalization of $117.15 billion, a P/E ratio of 30.21 and a beta of 0.97. Medtronic plc. has a 52 week low of $69.35 and a 52 week high of $89.27.

Medtronic plc. (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The company had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.86 billion. Medtronic plc. had a return on equity of 12.36% and a net margin of 14.63%. Medtronic plc.’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.27 EPS. On average, analysts expect that Medtronic plc. will post $4.58 EPS for the current year.

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A number of equities research analysts recently weighed in on MDT shares. Needham & Company LLC reaffirmed a “buy” rating and set a $91.00 price objective on shares of Medtronic plc. in a research report on Monday, March 27th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Medtronic plc. in a research report on Wednesday, March 22nd. Evercore ISI raised their price objective on Medtronic plc. from $78.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, February 21st. Jefferies Group LLC reaffirmed a “buy” rating and set a $88.00 price objective on shares of Medtronic plc. in a research report on Friday, February 17th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $85.00 price objective on shares of Medtronic plc. in a research report on Tuesday, April 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company. Medtronic plc. has a consensus rating of “Hold” and a consensus target price of $87.33.

In other Medtronic plc. news, EVP Hoedt Rob Ten sold 50,757 shares of the company’s stock in a transaction on Monday, March 20th. The stock was sold at an average price of $81.58, for a total value of $4,140,756.06. Following the transaction, the executive vice president now owns 59,392 shares of the company’s stock, valued at approximately $4,845,199.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Omar Ishrak sold 95,000 shares of the company’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $82.82, for a total value of $7,867,900.00. Following the completion of the transaction, the chief executive officer now directly owns 645,616 shares in the company, valued at approximately $53,469,917.12. The disclosure for this sale can be found here. Insiders sold a total of 198,073 shares of company stock worth $16,315,832 in the last ninety days. 0.25% of the stock is currently owned by corporate 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.

12 Month Chart for NYSE:MDT

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc. (NYSE:MDT).

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