Medtronic PLC (MDT) Shares Bought by First Trust Advisors LP

First Trust Advisors LP raised its stake in Medtronic PLC (NYSE:MDT) by 8.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 402,423 shares of the medical technology company’s stock after acquiring an additional 30,715 shares during the period. First Trust Advisors LP’s holdings in Medtronic were worth $31,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hudock Capital Group LLC boosted its stake in shares of Medtronic by 0.5% during the second quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock worth $194,000 after buying an additional 11 shares during the period. Triangle Securities Wealth Management boosted its stake in shares of Medtronic by 0.3% during the second quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock worth $390,000 after buying an additional 15 shares during the period. IFC Holdings Incorporated FL boosted its stake in shares of Medtronic by 0.3% during the second quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock worth $501,000 after buying an additional 17 shares during the period. Arcus Capital Partners LLC boosted its stake in shares of Medtronic by 0.8% during the second quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock worth $288,000 after buying an additional 25 shares during the period. Finally, Guardian Life Insurance Co. of America boosted its stake in shares of Medtronic by 0.6% during the first quarter. Guardian Life Insurance Co. of America now owns 5,288 shares of the medical technology company’s stock worth $426,000 after buying an additional 29 shares during the period. Institutional investors own 81.85% of the company’s stock.

Shares of Medtronic PLC (MDT) traded down $1.40 during trading on Tuesday, reaching $79.87. 8,687,700 shares of the company’s stock were exchanged, compared to its average volume of 4,957,406. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. The stock has a market capitalization of $108,100.00, a PE ratio of 17.51, a PEG ratio of 2.24 and a beta of 1.00.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same period last year, the company posted $1.12 earnings per share. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. research analysts predict that Medtronic PLC will post 4.77 earnings per share for the current fiscal year.

In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the transaction, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,407 shares of company stock valued at $13,974,223. 0.31% of the stock is currently owned by corporate insiders.

MDT has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $94.00 target price on shares of Medtronic in a research note on Thursday, November 9th. BidaskClub downgraded shares of Medtronic from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Zacks Investment Research downgraded shares of Medtronic from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. SunTrust Banks set a $92.00 target price on shares of Medtronic and gave the stock a “buy” rating in a research note on Sunday, November 19th. Finally, Royal Bank Of Canada decreased their target price on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $88.02.

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Medtronic Company Profile

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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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