Raymond James & Associates boosted its position in Medtronic plc. (NYSE:MDT) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,130,147 shares of the medical technology company’s stock after purchasing an additional 12,325 shares during the quarter. Raymond James & Associates owned approximately 0.08% of Medtronic worth $91,260,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in MDT. Quadrant Capital Group LLC raised its holdings in Medtronic by 21.5% in the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after purchasing an additional 290 shares in the last quarter. Blue Chip Partners Inc. bought a new position in Medtronic in the third quarter worth about $118,000. Barrett Asset Management LLC raised its holdings in Medtronic by 856.0% in the fourth quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock worth $147,000 after purchasing an additional 1,635 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in Medtronic in the second quarter worth about $151,000. Finally, SevenBridge Financial Group LLC raised its holdings in Medtronic by 76.2% in the third quarter. SevenBridge Financial Group LLC now owns 2,197 shares of the medical technology company’s stock worth $171,000 after purchasing an additional 950 shares in the last quarter. Institutional investors and hedge funds own 80.79% of the company’s stock.
Shares of Medtronic plc. (NYSE:MDT) opened at $83.15 on Monday. The company has a market capitalization of $112,699.27, a P/E ratio of 40.96, a P/E/G ratio of 2.36 and a beta of 0.97. Medtronic plc. has a 52-week low of $76.51 and a 52-week high of $89.72. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.43 and a quick ratio of 2.09.
In related news, VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now owns 149,761 shares in the company, valued at $12,910,895.81. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $82.82, for a total value of $1,325,120.00. Following the completion of the sale, the executive vice president now owns 88,818 shares in the company, valued at approximately $7,355,906.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 145,163 shares of company stock worth $12,232,045. 0.31% of the stock is owned by insiders.
MDT has been the topic of several recent analyst reports. SunTrust Banks set a $92.00 price objective on shares of Medtronic and gave the company a “buy” rating in a report on Sunday, November 19th. Evercore ISI initiated coverage on shares of Medtronic in a report on Wednesday, January 3rd. They set an “outperform” rating and a $92.50 price objective on the stock. Citigroup restated a “buy” rating and set a $93.00 price objective (down previously from $100.00) on shares of Medtronic in a report on Thursday, February 22nd. Oppenheimer restated a “buy” rating on shares of Medtronic in a report on Thursday, December 21st. Finally, BMO Capital Markets upped their price objective on shares of Medtronic to $94.00 and gave the company an “outperform” rating in a report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. The company 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.
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