WestEnd Advisors LLC lifted its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 390,599 shares of the medical technology company’s stock after buying an additional 10,456 shares during the quarter. Medtronic comprises approximately 3.3% of WestEnd Advisors LLC’s investment portfolio, making the stock its 16th biggest holding. WestEnd Advisors LLC’s holdings in Medtronic were worth $35,576,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Sustainable Insight Capital Management LLC bought a new stake in Medtronic during the fourth quarter worth about $964,000. Actinver Wealth Management Inc. bought a new stake in Medtronic during the fourth quarter worth about $2,101,000. Chesley Taft & Associates LLC lifted its position in Medtronic by 11.7% during the first quarter. Chesley Taft & Associates LLC now owns 10,029 shares of the medical technology company’s stock worth $913,000 after purchasing an additional 1,050 shares during the period. Wills Financial Group Inc. lifted its position in Medtronic by 19.3% during the fourth quarter. Wills Financial Group Inc. now owns 18,021 shares of the medical technology company’s stock worth $1,639,000 after purchasing an additional 2,921 shares during the period. Finally, Stanley Laman Group Ltd. lifted its position in Medtronic by 2.3% during the fourth quarter. Stanley Laman Group Ltd. now owns 11,702 shares of the medical technology company’s stock worth $1,064,000 after purchasing an additional 266 shares during the period. Institutional investors own 80.10% of the company’s stock.
In other Medtronic news, EVP Hoedt Rob Ten sold 9,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $91.88, for a total transaction of $826,920.00. Following the transaction, the executive vice president now directly owns 58,785 shares in the company, valued at approximately $5,401,165.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Geoffrey Martha sold 11,000 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $96.05, for a total value of $1,056,550.00. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.
NYSE:MDT traded down $0.19 on Tuesday, reaching $97.56. 3,550,639 shares of the stock traded hands, compared to its average volume of 5,918,483. The company has a market capitalization of $130.24 billion, a PE ratio of 18.69, a P/E/G ratio of 2.50 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.15 and a current ratio of 2.59. Medtronic PLC has a 1-year low of $81.66 and a 1-year high of $100.15.
Medtronic (NYSE:MDT) last released its earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.07. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.12 billion. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.42 EPS. Research analysts predict that Medtronic PLC will post 5.46 EPS for the current year.
MDT has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Wells Fargo & Co dropped their target price on shares of Medtronic from $101.00 to $100.00 and set a “market perform” rating for the company in a report on Thursday, April 4th. Oppenheimer set a $104.00 target price on shares of Medtronic and gave the stock a “buy” rating in a report on Wednesday, February 20th. Northland Securities reissued a “hold” rating and issued a $84.00 target price on shares of Medtronic in a report on Monday, March 18th. Finally, Citigroup increased their target price on shares of Medtronic from $95.00 to $101.00 and gave the stock a “neutral” rating in a report on Monday, February 25th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Medtronic presently has a consensus rating of “Buy” and a consensus price target of $103.95.
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.