Medtronic plc (NYSE:MDT) Shares Purchased by Capital Analysts LLC

Capital Analysts LLC increased its stake in shares of Medtronic plc (NYSE:MDTGet Rating) by 6.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,279 shares of the medical technology company’s stock after purchasing an additional 3,189 shares during the period. Capital Analysts LLC’s holdings in Medtronic were worth $4,961,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MDT. Castle Wealth Management LLC purchased a new stake in shares of Medtronic in the 2nd quarter valued at approximately $28,000. Tortoise Investment Management LLC boosted its position in shares of Medtronic by 53.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 357 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 124 shares during the period. West Branch Capital LLC boosted its position in Medtronic by 84.8% in the 2nd quarter. West Branch Capital LLC now owns 377 shares of the medical technology company’s stock valued at $34,000 after buying an additional 173 shares during the period. Fairfield Bush & CO. purchased a new position in Medtronic in the 1st quarter valued at approximately $47,000. Finally, Herold Advisors Inc. purchased a new position in Medtronic in the 1st quarter valued at approximately $50,000. Institutional investors and hedge funds own 79.81% of the company’s stock.

Medtronic Price Performance

MDT stock traded up $1.09 during trading on Thursday, reaching $79.02. 9,874,024 shares of the company were exchanged, compared to its average volume of 7,632,391. The company has a market cap of $105.03 billion, a P/E ratio of 24.54, a PEG ratio of 2.17 and a beta of 0.77. Medtronic plc has a 52-week low of $76.60 and a 52-week high of $115.28. The stock’s 50 day moving average price is $83.56 and its 200 day moving average price is $89.79. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.23 and a current ratio of 1.76.

Medtronic (NYSE:MDTGet Rating) last released its quarterly earnings data on Tuesday, November 22nd. The medical technology company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.02. The firm had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.70 billion. Medtronic had a net margin of 14.03% and a return on equity of 13.52%. The firm’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.32 earnings per share. As a group, analysts predict that Medtronic plc will post 5.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Medtronic from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Wednesday. Raymond James lowered shares of Medtronic from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 24th. Morgan Stanley cut their price target on shares of Medtronic from $97.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Jefferies Financial Group started coverage on shares of Medtronic in a research note on Wednesday, October 12th. They set a “hold” rating and a $87.00 price target on the stock. Finally, TheStreet lowered shares of Medtronic from a “b-” rating to a “c+” rating in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus price target of $98.00.

Insider Buying and Selling

In related news, EVP Hoedt Rob Ten sold 2,404 shares of the business’s stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $81.54, for a total transaction of $196,022.16. Following the sale, the executive vice president now owns 43,483 shares of the company’s stock, valued at $3,545,603.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.

About Medtronic

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Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.

Further Reading

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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