Northstar Investment Advisors LLC Boosts Stake in Medtronic PLC (MDT)

Northstar Investment Advisors LLC boosted its position in shares of Medtronic PLC (NYSE:MDT) by 4.4% during the first quarter, Holdings Channel reports. The fund owned 100,200 shares of the medical technology company’s stock after buying an additional 4,230 shares during the period. Northstar Investment Advisors LLC’s holdings in Medtronic PLC were worth $8,072,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Ally Financial Inc. bought a new stake in shares of Medtronic PLC during the fourth quarter worth about $2,493,000. State Street Corp increased its stake in shares of Medtronic PLC by 2.4% in the fourth quarter. State Street Corp now owns 64,040,900 shares of the medical technology company’s stock worth $4,564,431,000 after buying an additional 1,481,108 shares during the period. Cipher Capital LP increased its stake in shares of Medtronic PLC by 845.0% in the fourth quarter. Cipher Capital LP now owns 139,807 shares of the medical technology company’s stock worth $9,959,000 after buying an additional 125,012 shares during the period. Tredje AP fonden increased its stake in shares of Medtronic PLC by 12.5% in the fourth quarter. Tredje AP fonden now owns 165,137 shares of the medical technology company’s stock worth $11,834,000 after buying an additional 18,318 shares during the period. Finally, Vontobel Swiss Wealth Advisors AG increased its stake in shares of Medtronic PLC by 436.5% in the fourth quarter. Vontobel Swiss Wealth Advisors AG now owns 23,337 shares of the medical technology company’s stock worth $1,662,000 after buying an additional 18,987 shares during the period. 82.48% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

Medtronic PLC (MDT) opened at 89.20 on Friday. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.52. The stock has a market capitalization of $122.11 billion, a P/E ratio of 30.87 and a beta of 1.04. The firm’s 50-day moving average price is $85.16 and its 200 day moving average price is $79.55.

Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The business had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.86 billion. During the same quarter in the prior year, the company earned $1.27 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that Medtronic PLC will post $4.95 EPS for the current year.

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A number of brokerages have issued reports on MDT. BidaskClub upgraded Medtronic PLC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. BMO Capital Markets upped their price objective on Medtronic PLC from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, May 30th. Morgan Stanley upped their price objective on Medtronic PLC from $84.00 to $86.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 30th. Barclays PLC restated an “overweight” rating and set a $94.00 price objective (up from $92.00) on shares of Medtronic PLC in a research report on Sunday, May 28th. Finally, Cowen and Company restated an “outperform” rating and set a $95.00 price objective (up from $86.00) on shares of Medtronic PLC in a research report on Sunday, May 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $88.88.

In related news, Director Richard H. Anderson acquired 5,600 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were acquired at an average price of $88.90 per share, with a total value of $497,840.00. Following the completion of the transaction, the director now owns 71,910 shares of the company’s stock, valued at $6,392,799. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.

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