Bellevue Group AG Acquires 140,000 Shares of Medtronic PLC (MDT)

Bellevue Group AG raised its holdings in shares of Medtronic PLC (NYSE:MDT) by 64.5% during the 1st quarter, Holdings Channel reports. The fund owned 357,000 shares of the medical technology company’s stock after acquiring an additional 140,000 shares during the quarter. Medtronic comprises approximately 2.8% of Bellevue Group AG’s portfolio, making the stock its 8th biggest holding. Bellevue Group AG’s holdings in Medtronic were worth $28,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. We Are One Seven LLC purchased a new position in shares of Medtronic during the 4th quarter valued at $104,000. BB&T Investment Services Inc. lifted its stake in shares of Medtronic by 147.6% during the 4th 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 in the last quarter. Barrett Asset Management LLC lifted its stake 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 buying an additional 1,635 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in shares of Medtronic by 51.2% during the 4th 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 in the last quarter. Finally, Bedel Financial Consulting Inc. purchased a new position in shares of Medtronic during the 1st quarter valued at $193,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

In other news, SVP Carol A. Surface sold 24,479 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $78.18, for a total value of $1,913,768.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James T. Lenehan sold 1,306 shares of the business’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $83.56, for a total transaction of $109,129.36. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Shares of Medtronic opened at $84.64 on Monday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.09 and a current ratio of 2.43. The firm has a market capitalization of $114.72 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 2.32 and a beta of 0.94. 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, beating analysts’ consensus estimates of $1.16 by $0.01. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The company had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.20 billion. During the same period in the previous year, the firm posted $1.12 EPS. Medtronic’s revenue for the quarter was up 1.2% compared to the same quarter last year. equities analysts forecast that Medtronic PLC will post 4.74 earnings per share for the current year.

A number of research analysts recently weighed in on MDT shares. Morgan Stanley lowered their target price on shares of Medtronic from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 29th. Royal Bank of Canada restated an “outperform” rating and set a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 14th. Oppenheimer restated a “buy” rating on shares of Medtronic in a research note on Tuesday, March 20th. Citigroup restated a “buy” rating and set a $93.00 target price (down previously from $100.00) on shares of Medtronic in a research note on Thursday, February 22nd. Finally, TheStreet cut shares of Medtronic from a “b” rating to a “c+” rating in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $91.39.

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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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