HPM Partners LLC lowered its stake in Medtronic plc. (NYSE:MDT) by 13.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,062 shares of the medical technology company’s stock after selling 4,029 shares during the period. HPM Partners LLC’s holdings in Medtronic were worth $2,185,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its holdings in shares of Medtronic by 21.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after buying an additional 290 shares in the last quarter. Blue Chip Partners Inc. bought a new stake in shares of Medtronic during the 3rd quarter valued at $118,000. Barrett Asset Management LLC boosted its holdings 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. Westwood Holdings Group Inc. bought a new stake in shares of Medtronic during the 2nd quarter valued at $151,000. Finally, SevenBridge Financial Group LLC boosted its holdings in shares of Medtronic by 76.2% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,197 shares of the medical technology company’s stock valued at $171,000 after buying an additional 950 shares in the last quarter. Institutional investors and hedge funds own 80.79% of the company’s stock.
In other Medtronic news, SVP Carol A. Surface sold 24,479 shares of the business’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $78.18, for a total value of $1,913,768.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the completion of the transaction, the vice president now directly owns 149,761 shares of the company’s stock, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. In the last three months, insiders sold 145,163 shares of company stock valued at $12,232,045. 0.31% of the stock is owned by insiders.
Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.01. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. The business had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same quarter in the previous year, the firm earned $1.12 EPS. Medtronic’s revenue was up 1.2% on a year-over-year basis. equities analysts forecast that Medtronic plc. will post 4.75 earnings per share for the current year.
A number of brokerages have recently commented on MDT. SunTrust Banks set a $92.00 target price on shares of Medtronic and gave the company a “buy” rating in a report on Sunday, November 19th. Citigroup restated a “buy” rating and set a $93.00 target price (down previously from $100.00) on shares of Medtronic in a report on Thursday, February 22nd. Northland Securities restated a “hold” rating and set a $80.00 target price on shares of Medtronic in a report on Wednesday, November 22nd. TheStreet cut shares of Medtronic from a “b” rating to a “c+” rating in a report on Tuesday, February 20th. Finally, Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $91.50.
Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc. (NYSE:MDT).
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.