Schmidt P J Investment Management Inc. lowered its stake in Medtronic PLC (NYSE:MDT) by 3.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,933 shares of the medical technology company’s stock after selling 150 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Medtronic were worth $449,000 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 bought a new stake in Medtronic in the 4th quarter valued at $964,000. Actinver Wealth Management Inc. bought a new stake in Medtronic in the 4th quarter valued at $2,101,000. Chesley Taft & Associates LLC increased its holdings in Medtronic by 11.7% in the 1st quarter. Chesley Taft & Associates LLC now owns 10,029 shares of the medical technology company’s stock valued at $913,000 after acquiring an additional 1,050 shares during the last quarter. Cohen Lawrence B increased its holdings in Medtronic by 1.3% in the 4th quarter. Cohen Lawrence B now owns 33,364 shares of the medical technology company’s stock valued at $3,035,000 after acquiring an additional 429 shares during the last quarter. Finally, Wills Financial Group Inc. increased its holdings in shares of Medtronic by 19.3% in the 4th quarter. Wills Financial Group Inc. now owns 18,021 shares of the medical technology company’s stock worth $1,639,000 after buying an additional 2,921 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.
Medtronic stock traded up $0.99 during trading hours on Wednesday, hitting $88.76. The company had a trading volume of 5,965,308 shares, compared to its average volume of 5,811,958. Medtronic PLC has a 1 year low of $81.66 and a 1 year high of $100.15. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.36 and a quick ratio of 1.92. The stock has a market cap of $117.66 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 2.18 and a beta of 0.78.
Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 19th. The medical technology company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.24 by $0.05. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the previous year, the business posted $1.17 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts expect that Medtronic PLC will post 5.15 earnings per share for the current year.
MDT has been the topic of a number of research reports. Needham & Company LLC restated a “strong-buy” rating and issued a $117.00 target price (down from $120.00) on shares of Medtronic in a report on Monday, February 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. Barclays restated a “buy” rating and issued a $104.00 target price on shares of Medtronic in a report on Wednesday, February 20th. Citigroup lifted their price target on shares of Medtronic from $95.00 to $101.00 and gave the stock a “neutral” rating in a research note on Monday, February 25th. Finally, Northland Securities reaffirmed a “hold” rating and set a $84.00 price target on shares of Medtronic in a research note on Monday, March 18th. Ten research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $103.39.
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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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