Aviva PLC Acquires 256,249 Shares of Medtronic PLC (NYSE:MDT)

Aviva PLC Acquires 256,249 Shares of Medtronic PLC (NYSE:MDT)

Aviva PLC grew its holdings in shares of Medtronic PLC (NYSE:MDT) by 25.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,269,269 shares of the medical technology company’s stock after buying an additional 256,249 shares during the period. Medtronic makes up 0.9% of Aviva PLC’s investment portfolio, making the stock its 19th largest holding. Aviva PLC owned about 0.09% of Medtronic worth $143,999,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MDT. Private Ocean LLC raised its position in shares of Medtronic by 188.5% during the third quarter. Private Ocean LLC now owns 225 shares of the medical technology company’s stock worth $25,000 after purchasing an additional 147 shares during the period. Manchester Financial Inc. purchased a new stake in Medtronic in the 4th quarter valued at $28,000. Gables Capital Management Inc. raised its position in Medtronic by 904.8% in the 3rd quarter. Gables Capital Management Inc. now owns 1,246 shares of the medical technology company’s stock valued at $34,000 after buying an additional 1,122 shares during the last quarter. Barnett & Company Inc. purchased a new stake in Medtronic in the 4th quarter valued at $34,000. Finally, Stonebridge Financial Planning Group LLC purchased a new stake in Medtronic in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Shares of NYSE:MDT opened at $113.86 on Friday. The company has a market capitalization of $151.01 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 2.71 and a beta of 0.60. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.77 and a quick ratio of 2.28. The business has a fifty day moving average price of $117.65 and a two-hundred day moving average price of $110.85. Medtronic PLC has a 1 year low of $82.77 and a 1 year high of $122.15.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.06. The firm had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.80 billion. Medtronic had a return on equity of 14.87% and a net margin of 17.11%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 EPS. Sell-side analysts anticipate that Medtronic PLC will post 5.64 earnings per share for the current year.

A number of equities research analysts recently commented on the company. Argus increased their price target on Medtronic to $135.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Guggenheim raised Medtronic from a “neutral” rating to a “buy” rating and set a $135.00 price target for the company in a research report on Thursday, January 2nd. They noted that the move was a valuation call. JPMorgan Chase & Co. increased their price target on Medtronic from $122.00 to $128.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Piper Jaffray Companies increased their price target on Medtronic to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley increased their price target on Medtronic from $116.00 to $123.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $121.28.

In other news, EVP Robert John White sold 52,166 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $110.62, for a total transaction of $5,770,602.92. Following the completion of the transaction, the executive vice president now owns 77,510 shares in the company, valued at approximately $8,574,156.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard H. Anderson purchased 5,000 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were purchased at an average price of $111.13 per share, with a total value of $555,650.00. The disclosure for this purchase can be found here. 0.28% of the stock is owned by corporate insiders.

Medtronic 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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