Loomis Sayles & Co. L P decreased its stake in shares of Medtronic PLC (NYSE:MDT) by 65.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,507 shares of the medical technology company’s stock after selling 373,438 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Medtronic were worth $19,232,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in MDT. Fort L.P. purchased a new position in Medtronic during the 2nd quarter valued at about $121,000. Polaris Greystone Financial Group LLC increased its position in Medtronic by 255.1% during the 3rd quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock valued at $130,000 after purchasing an additional 949 shares during the period. Hartford Financial Management Inc. purchased a new position in Medtronic during the 2nd quarter valued at about $164,000. Meristem LLP purchased a new position in Medtronic during the 2nd quarter valued at about $200,000. Finally, Aspiriant LLC purchased a new position in Medtronic during the 3rd quarter valued at about $200,000. Institutional investors own 80.44% of the company’s stock.
NYSE:MDT opened at $96.24 on Friday. The company has a market cap of $129.59 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 2.51 and a beta of 0.96. Medtronic PLC has a twelve month low of $76.41 and a twelve month high of $100.15. The company has a current ratio of 2.56, a quick ratio of 2.11 and a debt-to-equity ratio of 0.48.
Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 20th. The medical technology company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.07. The company had revenue of $7.48 billion for the quarter, compared to the consensus estimate of $7.35 billion. Medtronic had a net margin of 7.44% and a return on equity of 13.51%. Medtronic’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 EPS. On average, equities research analysts expect that Medtronic PLC will post 5.13 earnings per share for the current year.
In other Medtronic news, EVP Geoffrey Martha sold 49,799 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $97.93, for a total transaction of $4,876,816.07. Following the sale, the executive vice president now owns 87,872 shares of the company’s stock, valued at approximately $8,605,304.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.28% of the stock is currently owned by insiders.
A number of research firms have commented on MDT. Zacks Investment Research raised shares of Medtronic from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Tuesday, October 23rd. Oppenheimer reissued a “buy” rating and set a $104.00 target price on shares of Medtronic in a research report on Tuesday, August 21st. Bank of America raised their target price on shares of Medtronic from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, August 22nd. SunTrust Banks lifted their price objective on shares of Medtronic to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Finally, Stifel Nicolaus lifted their price objective on shares of Medtronic from $87.00 to $96.00 and gave the stock a “hold” rating in a research report on Wednesday, August 22nd. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $104.87.
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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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