Great Lakes Advisors LLC grew its stake in Medtronic PLC (NYSE:MDT) by 8.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,155 shares of the medical technology company’s stock after purchasing an additional 825 shares during the period. Great Lakes Advisors LLC’s holdings in Medtronic were worth $1,097,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC boosted its stake in shares of Medtronic by 24.4% in the second quarter. Chicago Partners Investment Group LLC now owns 2,699 shares of the medical technology company’s stock valued at $231,000 after buying an additional 530 shares in the last quarter. Wesbanco Bank Inc. boosted its stake in shares of Medtronic by 0.5% in the third quarter. Wesbanco Bank Inc. now owns 106,601 shares of the medical technology company’s stock valued at $10,486,000 after buying an additional 538 shares in the last quarter. Duncker Streett & Co. Inc. boosted its stake in shares of Medtronic by 3.0% in the third quarter. Duncker Streett & Co. Inc. now owns 18,383 shares of the medical technology company’s stock valued at $1,808,000 after buying an additional 544 shares in the last quarter. Telemus Capital LLC boosted its stake in shares of Medtronic by 4.9% in the third quarter. Telemus Capital LLC now owns 11,590 shares of the medical technology company’s stock valued at $1,140,000 after buying an additional 544 shares in the last quarter. Finally, Strategic Financial Services Inc boosted its stake in shares of Medtronic by 1.0% in the second quarter. Strategic Financial Services Inc now owns 57,707 shares of the medical technology company’s stock valued at $4,940,000 after buying an additional 554 shares in the last quarter. 80.44% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Geoffrey Martha sold 49,799 shares of the business’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $97.93, for a total value of $4,876,816.07. Following the completion of the transaction, the executive vice president now directly owns 87,872 shares of the company’s stock, valued at $8,605,304.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.28% of the company’s stock.
MDT has been the topic of a number of analyst reports. Needham & Company LLC upgraded Medtronic from a “buy” rating to a “strong-buy” rating and lifted their price target for the company from $103.00 to $119.00 in a research note on Monday, August 13th. Wells Fargo & Co boosted their target price on Medtronic from $95.00 to $101.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 22nd. Argus boosted their target price on Medtronic from $108.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 8th. Leerink Swann boosted their target price on Medtronic from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 22nd. Finally, Barclays initiated coverage on Medtronic in a research report on Monday, October 15th. They set an “overweight” rating and a $113.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $104.87.
MDT opened at $96.24 on Friday. The company has a current ratio of 2.56, a quick ratio of 2.11 and a debt-to-equity ratio of 0.48. The firm has a market cap of $129.59 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 2.51 and a beta of 0.96. Medtronic PLC has a one year low of $76.41 and a one year high of $100.15.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 20th. The medical technology company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.07. Medtronic had a return on equity of 13.51% and a net margin of 7.44%. The company had revenue of $7.48 billion during the quarter, compared to analysts’ expectations of $7.35 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that Medtronic PLC will post 5.13 earnings per share for the current year.
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Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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