SVA Plumb Wealth Management LLC lifted its position in shares of Medtronic PLC (NYSE:MDT) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,338 shares of the medical technology company’s stock after buying an additional 2,432 shares during the quarter. SVA Plumb Wealth Management LLC’s holdings in Medtronic were worth $6,722,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. GSA Capital Partners LLP grew its holdings in shares of Medtronic by 22.8% during the third quarter. GSA Capital Partners LLP now owns 37,933 shares of the medical technology company’s stock worth $3,731,000 after buying an additional 7,045 shares in the last quarter. Stevens Capital Management LP purchased a new stake in shares of Medtronic during the third quarter worth about $22,305,000. Silchester International Investors LLP grew its holdings in shares of Medtronic by 122.7% during the third quarter. Silchester International Investors LLP now owns 82,855 shares of the medical technology company’s stock worth $8,150,000 after buying an additional 45,648 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Medtronic by 9.9% during the third quarter. Blair William & Co. IL now owns 378,522 shares of the medical technology company’s stock worth $37,235,000 after buying an additional 34,096 shares in the last quarter. Finally, Richard Bernstein Advisors LLC purchased a new stake in shares of Medtronic during the third quarter worth about $4,605,000. Institutional investors and hedge funds own 79.56% of the company’s stock.
A number of brokerages have recently commented on MDT. Needham & Company LLC upgraded shares of Medtronic from a “buy” rating to a “strong-buy” rating and lifted their price target for the stock from $103.00 to $119.00 in a report on Monday, August 13th. Wells Fargo & Co lifted their price target on shares of Medtronic from $95.00 to $101.00 and gave the stock a “market perform” rating in a report on Wednesday, August 22nd. Stifel Nicolaus lifted their price target on shares of Medtronic from $87.00 to $96.00 and gave the stock a “hold” rating in a report on Wednesday, August 22nd. Morgan Stanley boosted their target price on shares of Medtronic from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, August 22nd. Finally, Argus boosted their target price on shares of Medtronic from $95.00 to $108.00 and gave the company a “buy” rating in a report on Monday, August 27th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Medtronic has a consensus rating of “Buy” and a consensus price target of $104.87.
Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 20th. The medical technology company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.07. The firm had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $7.35 billion. Medtronic had a net margin of 7.44% and a return on equity of 13.51%. Medtronic’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 earnings per share. On average, research analysts predict that Medtronic PLC will post 5.13 earnings per share for the current year.
In other Medtronic news, EVP Geoffrey Martha sold 49,799 shares of Medtronic stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $97.93, for a total transaction of $4,876,816.07. Following the transaction, the executive vice president now directly owns 87,872 shares of the company’s stock, valued at $8,605,304.96. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.28% of the company’s stock.
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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