HealthCor Management L.P. increased its holdings in Medtronic plc. (NYSE:MDT) by 2,850.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,950,000 shares of the medical technology company’s stock after acquiring an additional 1,883,900 shares during the quarter. Medtronic makes up 5.1% of HealthCor Management L.P.’s portfolio, making the stock its 6th biggest position. HealthCor Management L.P. owned 0.14% of Medtronic worth $157,463,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in MDT. Moors & Cabot Inc. grew its holdings in Medtronic by 0.4% in the 2nd quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock worth $3,842,000 after buying an additional 178 shares in the last quarter. Prudential Financial Inc. grew its holdings in Medtronic by 1.6% in the 3rd quarter. Prudential Financial Inc. now owns 3,308,500 shares of the medical technology company’s stock worth $257,302,000 after buying an additional 53,474 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in Medtronic by 10.7% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 475,699 shares of the medical technology company’s stock worth $36,995,000 after purchasing an additional 45,826 shares during the period. Koch Industries Inc. lifted its position in Medtronic by 27,564.6% in the second quarter. Koch Industries Inc. now owns 1,403,151 shares of the medical technology company’s stock worth $1,388,000 after purchasing an additional 1,398,079 shares during the period. Finally, Sun Life Financial INC lifted its position in Medtronic by 42,678.3% in the second quarter. Sun Life Financial INC now owns 25,667 shares of the medical technology company’s stock worth $2,282,000 after purchasing an additional 25,607 shares during the period. Institutional investors and hedge funds own 80.79% of the company’s stock.
Medtronic plc. (NYSE:MDT) opened at $83.15 on Monday. Medtronic plc. has a one year low of $76.51 and a one year high of $89.72. The company has a quick ratio of 2.09, a current ratio of 2.43 and a debt-to-equity ratio of 0.51. The firm has a market cap of $112,699.27, a price-to-earnings ratio of 17.73, a PEG ratio of 2.36 and a beta of 0.97.
A number of equities research analysts have weighed in on MDT shares. SunTrust Banks set a $92.00 target price on Medtronic and gave the stock a “buy” rating in a research report on Sunday, November 19th. Stifel Nicolaus upped their target price on Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, November 22nd. Oppenheimer restated a “buy” rating and issued a $94.00 target price on shares of Medtronic in a research report on Wednesday, November 22nd. Northland Securities restated a “hold” rating and issued a $80.00 target price on shares of Medtronic in a research report on Wednesday, November 22nd. Finally, Zacks Investment Research upgraded Medtronic from a “sell” rating to a “hold” rating in a research report on Thursday, November 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $91.50.
In other news, VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total value of $6,769,726.46. Following the transaction, the vice president now directly owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Carol A. Surface sold 24,479 shares of the 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 sold 145,163 shares of company stock worth $12,232,045 over the last ninety days. 0.31% of the stock is currently owned by company insiders.
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.
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