Ajo LP Raises Holdings in Medtronic PLC (NYSE:MDT)

Ajo LP increased its holdings in Medtronic PLC (NYSE:MDT) by 12.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,749 shares of the medical technology company’s stock after acquiring an additional 7,017 shares during the quarter. Ajo LP’s holdings in Medtronic were worth $5,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc boosted its holdings in Medtronic by 1.1% in the third quarter. Vanguard Group Inc now owns 109,447,687 shares of the medical technology company’s stock valued at $10,766,369,000 after purchasing an additional 1,199,118 shares during the last quarter. Community Financial Services Group LLC boosted its stake in Medtronic by 12.9% during the 4th quarter. Community Financial Services Group LLC now owns 3,290 shares of the medical technology company’s stock valued at $299,000 after purchasing an additional 375 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Medtronic by 2.4% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 34,520 shares of the medical technology company’s stock valued at $3,140,000 after purchasing an additional 805 shares in the last quarter. Ballentine Partners LLC boosted its stake in Medtronic by 92.8% during the 4th quarter. Ballentine Partners LLC now owns 8,128 shares of the medical technology company’s stock valued at $739,000 after purchasing an additional 3,913 shares in the last quarter. Finally, Security Asset Management boosted its stake in Medtronic by 3.2% during the 4th quarter. Security Asset Management now owns 4,560 shares of the medical technology company’s stock valued at $415,000 after purchasing an additional 143 shares in the last quarter. Institutional investors own 80.10% of the company’s stock.

In other Medtronic news, EVP Geoffrey Martha sold 11,000 shares of the 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 sale was disclosed in a document filed with the SEC, which is available at 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 acquired at an average price of $92.40 per share, for a total transaction of $1,007,160.00. Following the transaction, the director now owns 89,912 shares in the company, valued at $8,307,868.80. The disclosure for this purchase can be found here. 0.28% of the stock is owned by corporate insiders.

Medtronic stock opened at $97.53 on Thursday. The stock has a market capitalization of $130.24 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 2.50 and a beta of 0.68. The company has a current ratio of 2.59, a quick ratio of 2.15 and a debt-to-equity ratio of 0.49. Medtronic PLC has a twelve month low of $81.66 and a twelve month high of $100.15.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.07. The firm had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.12 billion. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 EPS. As a group, equities analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Several brokerages have recently commented on MDT. Oppenheimer set a $104.00 target price on Medtronic and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Wells Fargo & Co cut their price objective 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 raised 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 set a $104.00 target price on shares of Medtronic in a report on Wednesday, February 20th. Finally, Northland Securities reaffirmed a “hold” rating and issued a $84.00 price target on shares of Medtronic in a research report on Monday, March 18th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $103.95.

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Medtronic 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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