MV Capital Management Inc. raised its stake in Medtronic PLC (NYSE:MDT) by 11.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,864 shares of the medical technology company’s stock after purchasing an additional 284 shares during the quarter. MV Capital Management Inc.’s holdings in Medtronic were worth $261,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in MDT. Tributary Capital Management LLC bought a new stake in shares of Medtronic in the 4th quarter valued at approximately $27,000. Cordasco Financial Network bought a new stake in shares of Medtronic in the 1st quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. lifted its stake in shares of Medtronic by 158.0% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock valued at $34,000 after purchasing an additional 226 shares during the last quarter. Spectrum Management Group Inc. lifted its stake in shares of Medtronic by 353.8% in the 1st quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 322 shares during the last quarter. Finally, Highwater Wealth Management LLC bought a new stake in shares of Medtronic during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.
Shares of NYSE:MDT opened at $87.66 on Thursday. Medtronic PLC has a 12-month low of $81.66 and a 12-month high of $100.15. The firm has a market capitalization of $117.32 billion, a PE ratio of 18.38, a P/E/G ratio of 2.17 and a beta of 0.78. The company has a current ratio of 2.36, a quick ratio of 1.92 and a debt-to-equity ratio of 0.47.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.05. Medtronic had a return on equity of 13.85% and a net margin of 16.10%. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same period last year, the business posted $1.17 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts forecast that Medtronic PLC will post 5.15 EPS for the current year.
A number of brokerages recently issued reports on MDT. Needham & Company LLC reissued 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. Zacks Investment Research lowered Medtronic from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Northland Securities reissued a “hold” rating and set a $84.00 price target on shares of Medtronic in a research note on Monday, March 18th. Barclays reissued a “buy” rating and set a $104.00 price target on shares of Medtronic in a research note on Wednesday, February 20th. Finally, Citigroup raised their price target on Medtronic from $95.00 to $101.00 and gave the stock a “neutral” rating in a research note on Monday, February 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Medtronic currently has an average rating of “Buy” and an average target price of $103.39.
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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