Assenagon Asset Management S.A. lessened its stake in shares of Medtronic PLC (NYSE:MDT) by 87.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,805 shares of the medical technology company’s stock after selling 278,758 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Medtronic were worth $3,717,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of MDT. Tributary Capital Management LLC acquired a new position in shares of Medtronic during the fourth quarter worth approximately $27,000. Cordasco Financial Network acquired a new position in shares of Medtronic during the first quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. boosted its position in shares of Medtronic by 158.0% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock worth $34,000 after buying an additional 226 shares during the period. Spectrum Management Group Inc. boosted its position in shares of Medtronic by 353.8% during the first quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock worth $38,000 after buying an additional 322 shares during the period. Finally, Highwater Wealth Management LLC acquired a new position in shares of Medtronic during the fourth quarter worth approximately $39,000. Institutional investors own 81.23% of the company’s stock.
NYSE:MDT traded up $1.39 during trading hours on Friday, hitting $93.03. 7,158,726 shares of the stock traded hands, compared to its average volume of 5,899,082. The company has a quick ratio of 1.92, a current ratio of 2.36 and a debt-to-equity ratio of 0.47. Medtronic PLC has a fifty-two week low of $81.66 and a fifty-two week high of $100.15. The company has a market cap of $117.71 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 2.18 and a beta of 0.78.
Medtronic (NYSE:MDT) last announced its earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.07. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.12 billion. During the same period in the previous year, the business earned $1.42 EPS. The company’s revenue was up .0% on a year-over-year basis. Equities research analysts anticipate that Medtronic PLC will post 5.15 earnings per share for the current year.
Several equities analysts have recently issued reports on the company. Barclays reiterated a “buy” rating and set a $104.00 price objective on shares of Medtronic in a research report on Wednesday, February 20th. Oppenheimer set a $104.00 target price on Medtronic and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Citigroup upped their target price on Medtronic from $95.00 to $101.00 and gave the stock a “neutral” rating in a research report on Monday, February 25th. Northland Securities restated a “hold” rating and issued a $84.00 target price on shares of Medtronic in a research report on Monday, March 18th. Finally, Wells Fargo & Co cut their target price on Medtronic from $101.00 to $100.00 and set a “market perform” rating for the company in a research report on Thursday, April 4th. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $103.39.
TRADEMARK VIOLATION NOTICE: This story was posted by Sundance Herald and is the sole property of of Sundance Herald. If you are accessing this story on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The legal version of this story can be accessed at https://sundanceherald.com/2019/05/24/medtronic-plc-mdt-shares-sold-by-assenagon-asset-management-s-a.html.
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.
Read More: What is a Lock-Up Period?
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.