First Foundation Advisors Has $30.72 Million Holdings in Medtronic PLC (MDT)

First Foundation Advisors lowered its position in Medtronic PLC (NYSE:MDT) by 2.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 312,326 shares of the medical technology company’s stock after selling 8,909 shares during the period. Medtronic comprises approximately 1.7% of First Foundation Advisors’ investment portfolio, making the stock its 13th biggest position. First Foundation Advisors’ holdings in Medtronic were worth $30,724,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fort L.P. acquired a new stake in Medtronic in the 2nd quarter valued at about $121,000. Polaris Greystone Financial Group LLC raised its holdings in Medtronic by 255.1% in the 3rd quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock valued at $130,000 after acquiring an additional 949 shares during the last quarter. Hartford Financial Management Inc. acquired a new stake in Medtronic in the 2nd quarter valued at about $164,000. Meristem LLP acquired a new stake in Medtronic in the 2nd quarter valued at about $200,000. Finally, Aspiriant LLC acquired a new stake in Medtronic in the 3rd quarter valued at about $200,000. Hedge funds and other institutional investors own 79.56% of the company’s stock.

Medtronic stock opened at $97.53 on Friday. Medtronic PLC has a 1-year low of $76.41 and a 1-year high of $100.15. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.56 and a quick ratio of 2.11. The company has a market capitalization of $130.46 billion, a PE ratio of 19.40, a PEG ratio of 2.51 and a beta of 0.94.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 20th. The medical technology company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.07. The firm had revenue of $7.48 billion during the quarter, compared to analysts’ expectations of $7.35 billion. Medtronic had a net margin of 7.44% and a return on equity of 13.51%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.07 EPS. As a group, equities analysts forecast that Medtronic PLC will post 5.13 earnings per share for the current fiscal year.

A number of analysts have commented on the stock. Zacks Investment Research upgraded shares of Medtronic from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Tuesday, October 23rd. Oppenheimer reiterated a “buy” rating and issued a $104.00 price objective on shares of Medtronic in a report on Tuesday, August 21st. SunTrust Banks increased their price objective on shares of Medtronic to $110.00 and gave the company a “buy” rating in a report on Friday, August 24th. Bank of America increased their price target on shares of Medtronic from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, August 22nd. Finally, Stifel Nicolaus increased their price target on shares of Medtronic from $87.00 to $96.00 and gave the company a “hold” rating in a research note on Wednesday, August 22nd. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Medtronic presently has an average rating of “Buy” and a consensus target price of $104.87.

In related news, EVP Geoffrey Martha sold 49,799 shares of the 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 completion of the transaction, the executive vice president now owns 87,872 shares of the company’s stock, valued at approximately $8,605,304.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.28% of the company’s stock.

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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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