Charter Trust Co. lessened its stake in shares of Medtronic PLC (NYSE:MDT) by 2.3% in the first quarter, Holdings Channel reports. The fund owned 6,976 shares of the medical technology company’s stock after selling 166 shares during the quarter. Charter Trust Co.’s holdings in Medtronic were worth $635,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Cordasco Financial Network purchased a new stake in shares of Medtronic in the first quarter valued at $27,000. Pin Oak Investment Advisors Inc. lifted its holdings in shares of Medtronic by 158.0% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock valued at $34,000 after purchasing an additional 226 shares in the last quarter. Spectrum Management Group Inc. lifted its holdings in shares of Medtronic by 353.8% in the first quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 322 shares in the last quarter. Mackey Komara & Dankovich LLC purchased a new stake in shares of Medtronic in the first quarter valued at $38,000. Finally, Capital Financial Planning LLC purchased a new stake in shares of Medtronic in the fourth quarter valued at $42,000. Institutional investors own 80.10% of the company’s stock.
NYSE MDT opened at $97.50 on Friday. Medtronic PLC has a 1-year low of $81.66 and a 1-year high of $100.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.15 and a current ratio of 2.59. The firm has a market capitalization of $130.76 billion, a PE ratio of 18.68, a P/E/G ratio of 2.51 and a beta of 0.68.
Medtronic (NYSE:MDT) last posted its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.07. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.12 billion. During the same period in the prior year, the business posted $1.42 earnings per share. Medtronic’s revenue for the quarter was up .0% compared to the same quarter last year. On average, sell-side analysts predict that Medtronic PLC will post 5.46 EPS for the current year.
MDT has been the subject of a number of research analyst reports. Oppenheimer set a $104.00 target price on Medtronic and gave the company a “buy” rating in a report on Wednesday, February 20th. Wells Fargo & Co reduced their target price on Medtronic from $101.00 to $100.00 and set a “market perform” rating for the company in a report on Thursday, April 4th. Citigroup increased their target price on Medtronic from $95.00 to $101.00 and gave the company a “neutral” rating in a report on Monday, February 25th. Barclays restated a “buy” rating and issued a $104.00 target price on shares of Medtronic in a report on Wednesday, February 20th. Finally, Northland Securities restated a “hold” rating and issued a $84.00 target price on shares of Medtronic in a report on Monday, March 18th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $103.95.
In other news, EVP Hooman Hakami sold 52,664 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $97.49, for a total value of $5,134,213.36. Following the transaction, the executive vice president now directly owns 95,337 shares of the company’s stock, valued at $9,294,404.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Geoffrey Martha sold 11,000 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $96.05, for a total transaction of $1,056,550.00. The disclosure for this sale can be found here. Insiders sold 72,664 shares of company stock worth $7,017,683 over the last ninety days. 0.28% of the stock is currently owned by company insiders.
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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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