Advanced Asset Management Advisors Inc purchased a new stake in shares of Medtronic plc. (NYSE:MDT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 15,100 shares of the medical technology company’s stock, valued at approximately $1,219,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MDT. Beach Investment Management LLC. acquired a new stake in shares of Medtronic during the 2nd quarter valued at $3,534,000. Bronfman E.L. Rothschild L.P. lifted its position in shares of Medtronic by 13.9% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 9,509 shares of the medical technology company’s stock valued at $844,000 after acquiring an additional 1,159 shares during the last quarter. Swiss National Bank lifted its position in shares of Medtronic by 1.5% during the 2nd quarter. Swiss National Bank now owns 5,541,263 shares of the medical technology company’s stock valued at $491,787,000 after acquiring an additional 81,600 shares during the last quarter. Cedar Capital LLC lifted its position in shares of Medtronic by 34.9% during the 2nd quarter. Cedar Capital LLC now owns 4,599 shares of the medical technology company’s stock valued at $408,000 after acquiring an additional 1,191 shares during the last quarter. Finally, Sawtooth Solutions LLC acquired a new stake in shares of Medtronic during the 2nd quarter valued at $208,000. 79.83% of the stock is owned by hedge funds and other institutional investors.
Shares of Medtronic plc. (NYSE:MDT) opened at $83.31 on Tuesday. The stock has a market capitalization of $112,760.00, a price-to-earnings ratio of 22.89, a PEG ratio of 2.29 and a beta of 0.93. Medtronic plc. has a 1-year low of $76.51 and a 1-year high of $89.72. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50.
In related news, EVP Hooman Hakami sold 26,158 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $85.00, for a total transaction of $2,223,430.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $82.82, for a total value of $1,325,120.00. Following the sale, the executive vice president now owns 88,818 shares of the company’s stock, valued at $7,355,906.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,684 shares of company stock valued at $10,318,276. 0.31% of the stock is owned by corporate insiders.
A number of brokerages have recently commented on MDT. Royal Bank of Canada reiterated an “outperform” rating and set a $92.00 price objective on shares of Medtronic in a research report on Wednesday, February 14th. Morgan Stanley increased their price objective on Medtronic from $91.00 to $95.00 and gave the company an “equal weight” rating in a research report on Monday, February 5th. Oppenheimer set a $94.00 price objective on Medtronic and gave the company a “buy” rating in a research report on Friday, January 19th. Evercore ISI began coverage on Medtronic in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $92.50 price objective for the company. Finally, Bank of America upgraded Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $90.45.
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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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