GWM Advisors LLC cut its holdings in shares of Medtronic plc. (NYSE:MDT) by 14.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,558 shares of the medical technology company’s stock after selling 1,138 shares during the quarter. GWM Advisors LLC’s holdings in Medtronic were worth $561,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of MDT. Quadrant Capital Group LLC raised its position in Medtronic by 21.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after buying an additional 290 shares during the last quarter. Blue Chip Partners Inc. purchased a new position in shares of Medtronic during the 3rd quarter valued at approximately $118,000. Barrett Asset Management LLC increased its holdings in shares of Medtronic by 856.0% during the 4th quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock valued at $147,000 after purchasing an additional 1,635 shares in the last quarter. Westwood Holdings Group Inc. purchased a new position in shares of Medtronic during the 2nd quarter valued at approximately $151,000. Finally, Almanack Investment Partners LLC. purchased a new position in shares of Medtronic during the 2nd quarter valued at approximately $154,000. 79.83% of the stock is owned by institutional investors.
In other Medtronic news, EVP Hooman Hakami sold 26,158 shares of Medtronic stock in a transaction on Friday, January 5th. The shares were sold at an average price of $85.00, for a total transaction of $2,223,430.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction on Friday, December 15th. The stock was sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the sale, the executive vice president now directly owns 88,818 shares in the company, valued at approximately $7,355,906.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,684 shares of company stock worth $10,318,276. 0.31% of the stock is currently owned by corporate insiders.
Shares of Medtronic plc. (MDT) opened at $83.31 on Monday. The company has a market cap of $112,759.91, a price-to-earnings ratio of 17.95, a P/E/G ratio of 2.29 and a beta of 0.93. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50. Medtronic plc. has a 1-year low of $76.51 and a 1-year high of $89.72.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the previous year, the firm earned $1.12 EPS. The firm’s revenue was down 4.0% compared to the same quarter last year. analysts expect that Medtronic plc. will post 4.76 earnings per share for the current year.
Several equities analysts have recently weighed in on MDT shares. Needham & Company LLC reaffirmed a “buy” rating and set a $94.00 target price on shares of Medtronic in a report on Thursday, November 9th. SunTrust Banks set a $92.00 target price on shares of Medtronic and gave the company a “buy” rating in a report on Sunday, November 19th. Evercore ISI started coverage on shares of Medtronic in a report on Wednesday, January 3rd. They set an “outperform” rating and a $92.50 target price for the company. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a report on Thursday, December 21st. Finally, BMO Capital Markets lifted their target price on shares of Medtronic to $94.00 and gave the company an “outperform” rating in a report on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $90.45.
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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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