Cannell Peter B & Co. Inc. Has $3.11 Million Stake in Medtronic PLC (MDT)

Cannell Peter B & Co. Inc. lessened its position in shares of Medtronic PLC (NYSE:MDT) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,718 shares of the medical technology company’s stock after selling 1,500 shares during the quarter. Cannell Peter B & Co. Inc.’s holdings in Medtronic were worth $3,106,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV raised its position in shares of Medtronic by 2.4% during the 1st quarter. KBC Group NV now owns 655,442 shares of the medical technology company’s stock valued at $52,580,000 after buying an additional 15,628 shares during the period. Wilkins Investment Counsel Inc. increased its holdings in Medtronic by 4.1% in the 1st quarter. Wilkins Investment Counsel Inc. now owns 98,395 shares of the medical technology company’s stock valued at $7,893,000 after purchasing an additional 3,850 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in Medtronic in the 1st quarter valued at approximately $109,787,000. Haverford Trust Co. increased its holdings in Medtronic by 1.3% in the 1st quarter. Haverford Trust Co. now owns 1,076,456 shares of the medical technology company’s stock valued at $86,353,000 after purchasing an additional 14,116 shares during the last quarter. Finally, Silvant Capital Management LLC acquired a new stake in Medtronic in the 1st quarter valued at approximately $6,043,000. 80.37% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic opened at $85.32 on Tuesday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.43 and a quick ratio of 2.09. The firm has a market capitalization of $114.72 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth 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 issued its earnings results on Tuesday, February 20th. The medical technology company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.01. The firm had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.20 billion. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.12 earnings per share. sell-side analysts anticipate that Medtronic PLC will post 4.74 earnings per share for the current fiscal year.

Several research firms recently weighed in on MDT. Morgan Stanley lifted their target price on shares of Medtronic from $91.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Oppenheimer reiterated a “buy” rating and issued a $94.00 target price on shares of Medtronic in a report on Tuesday, February 20th. TheStreet downgraded shares of Medtronic from a “b” rating to a “c+” rating in a report on Tuesday, February 20th. SunTrust Banks lifted their target price on shares of Medtronic to $96.00 and gave the company a “buy” rating in a report on Monday. Finally, Piper Jaffray Companies began coverage on shares of Medtronic in a report on Friday, April 27th. They issued an “overweight” rating and a $90.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $91.61.

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

Medtronic 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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