AGF Investments America Inc. Lowers Position in Medtronic PLC (NYSE:MDT)

AGF Investments America Inc. reduced its position in shares of Medtronic PLC (NYSE:MDT) by 8.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 113,138 shares of the medical technology company’s stock after selling 10,095 shares during the quarter. Medtronic makes up about 3.7% of AGF Investments America Inc.’s holdings, making the stock its 7th biggest holding. AGF Investments America Inc.’s holdings in Medtronic were worth $10,305,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cordasco Financial Network purchased a new stake in shares of Medtronic in the 1st quarter worth about $27,000. Pin Oak Investment Advisors Inc. grew its position in shares of Medtronic by 158.0% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock worth $34,000 after buying an additional 226 shares during the period. Spectrum Management Group Inc. grew its position in shares of Medtronic by 353.8% in the 1st quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock worth $38,000 after buying an additional 322 shares during the period. Mackey Komara & Dankovich LLC purchased a new stake in shares of Medtronic in the 1st quarter worth about $38,000. Finally, Capital Financial Planning LLC purchased a new stake in shares of Medtronic in the 4th quarter worth about $42,000. Institutional investors own 80.10% of the company’s stock.

In other Medtronic news, EVP Geoffrey Martha sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $96.05, for a total transaction of $1,056,550.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard H. Anderson bought 10,900 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were purchased at an average price of $92.40 per share, for a total transaction of $1,007,160.00. Following the purchase, the director now owns 89,912 shares in the company, valued at approximately $8,307,868.80. The disclosure for this purchase can be found here. 0.28% of the stock is currently owned by company insiders.

Several analysts recently commented on the stock. Oppenheimer set a $104.00 price objective on shares of Medtronic and gave the company a “buy” rating in a research report on Wednesday, February 20th. Wells Fargo & Co cut their price objective on shares of Medtronic from $101.00 to $100.00 and set a “market perform” rating on the stock in a research report on Thursday, April 4th. Citigroup increased their price objective on shares of Medtronic from $95.00 to $101.00 and gave the company a “neutral” rating in a research report on Monday, February 25th. Barclays reissued a “buy” rating and set a $104.00 price objective on shares of Medtronic in a research report on Wednesday, February 20th. Finally, Northland Securities reissued a “hold” rating and set a $84.00 price objective on shares of Medtronic in a research report on Monday, March 18th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $103.95.

Shares of NYSE:MDT opened at $97.53 on Thursday. Medtronic PLC has a twelve month low of $81.66 and a twelve month high of $100.15. The company has a current ratio of 2.59, a quick ratio of 2.15 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $130.24 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.50 and a beta of 0.68.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.12 billion. During the same quarter in the prior year, the business earned $1.42 EPS. The business’s quarterly revenue was up .0% on a year-over-year basis. As a group, analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

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Medtronic Company Profile

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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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