Amundi Pioneer Asset Management Inc. Increases Holdings in Medtronic plc. (MDT)
Amundi Pioneer Asset Management Inc. raised its position in Medtronic plc. (NYSE:MDT) by 7.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,324,932 shares of the medical technology company’s stock after acquiring an additional 387,379 shares during the period. Medtronic makes up about 0.7% of Amundi Pioneer Asset Management Inc.’s holdings, making the stock its 27th largest position. Amundi Pioneer Asset Management Inc.’s holdings in Medtronic were worth $429,987,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in MDT. Quadrant Capital Group LLC grew its stake in Medtronic by 21.5% in the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after acquiring an additional 290 shares during the period. Blue Chip Partners Inc. acquired a new stake in Medtronic in the third quarter valued at approximately $118,000. Barrett Asset Management LLC grew its stake in Medtronic by 856.0% in the fourth quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock valued at $147,000 after acquiring an additional 1,635 shares during the period. Westwood Holdings Group Inc. acquired a new stake in Medtronic in the second quarter valued at approximately $151,000. Finally, SevenBridge Financial Group LLC grew its stake in Medtronic by 76.2% in the third quarter. SevenBridge Financial Group LLC now owns 2,197 shares of the medical technology company’s stock valued at $171,000 after acquiring an additional 950 shares during the period. 79.83% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on MDT shares. Oppenheimer set a $94.00 target price on Medtronic and gave the company a “buy” rating in a report on Friday, January 19th. Bank of America upgraded Medtronic from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Argus upgraded Medtronic from a “hold” rating to a “buy” rating and raised their target price for the company from $81.27 to $95.00 in a report on Tuesday, December 12th. They noted that the move was a valuation call. SunTrust Banks set a $92.00 target price on Medtronic and gave the company a “buy” rating in a report on Sunday, November 19th. Finally, Needham & Company LLC restated a “buy” rating and issued a $94.00 target price on shares of Medtronic in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. Medtronic presently has a consensus rating of “Buy” and a consensus price target of $91.50.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.01. The business had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.20 billion. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. Medtronic’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company posted $1.12 earnings per share. analysts anticipate that Medtronic plc. will post 4.75 EPS for the current fiscal year.
In other Medtronic news, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the sale, the vice president now directly owns 149,761 shares in the company, valued at $12,910,895.81. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $82.82, for a total value of $1,325,120.00. Following the completion of the sale, the executive vice president now owns 88,818 shares in the company, valued at $7,355,906.76. The disclosure for this sale can be found here. Insiders have sold 120,684 shares of company stock worth $10,318,276 over the last quarter. 0.31% of the stock is currently owned by corporate insiders.
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Medtronic Company Profile
Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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