Northwest Investment Counselors LLC increased its stake in Medtronic PLC (NYSE:MDT) by 5.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,278 shares of the medical technology company’s stock after purchasing an additional 965 shares during the quarter. Northwest Investment Counselors LLC’s holdings in Medtronic were worth $1,756,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of MDT. Sustainable Insight Capital Management LLC purchased a new position in shares of Medtronic during the 4th quarter worth about $964,000. Actinver Wealth Management Inc. purchased a new position in shares of Medtronic during the 4th quarter worth about $2,101,000. Chesley Taft & Associates LLC boosted its stake in shares of Medtronic by 11.7% during the 1st 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. Cohen Lawrence B boosted its stake in shares of Medtronic by 1.3% during the 4th quarter. Cohen Lawrence B now owns 33,364 shares of the medical technology company’s stock worth $3,035,000 after purchasing an additional 429 shares during the period. Finally, Wills Financial Group Inc. boosted its stake in shares of Medtronic by 19.3% during the 4th 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. Institutional investors own 81.52% of the company’s stock.
Shares of NYSE:MDT traded up $0.99 during trading hours on Wednesday, hitting $88.76. The company’s stock had a trading volume of 5,965,308 shares, compared to its average volume of 5,811,958. Medtronic PLC has a 52 week low of $81.66 and a 52 week high of $100.15. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.92 and a current ratio of 2.36. The firm has a market cap of $117.66 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.18 and a beta of 0.78.
Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 19th. The medical technology company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.24 by $0.05. The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.53 billion. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. Medtronic’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.17 EPS. On average, research analysts predict that Medtronic PLC will post 5.15 EPS for the current fiscal year.
MDT has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Medtronic from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Wells Fargo & Co dropped their price target on shares of Medtronic from $101.00 to $100.00 and set a “market perform” rating for the company in a research note on Thursday, April 4th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $117.00 price target (down from $120.00) on shares of Medtronic in a research note on Monday, February 4th. Oppenheimer set a $104.00 price objective on shares of Medtronic and gave the company a “buy” rating in a research report on Wednesday, February 20th. Finally, Northland Securities reissued a “hold” rating and issued a $84.00 price objective on shares of Medtronic in a research report on Monday, March 18th. Ten equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $103.39.
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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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