First Commonwealth Financial Corp PA purchased a new position in shares of Medtronic plc. (NYSE:MDT) in the fourth quarter, Holdings Channel reports. The fund purchased 2,952 shares of the medical technology company’s stock, valued at approximately $238,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Moors & Cabot Inc. raised its stake in shares of Medtronic by 0.4% during the second quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock worth $3,842,000 after buying an additional 178 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Medtronic by 1.6% during the third quarter. Prudential Financial Inc. now owns 3,308,500 shares of the medical technology company’s stock worth $257,302,000 after buying an additional 53,474 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Medtronic by 10.7% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 475,699 shares of the medical technology company’s stock worth $36,995,000 after buying an additional 45,826 shares during the last quarter. Koch Industries Inc. raised its stake in shares of Medtronic by 27,564.6% during the second quarter. Koch Industries Inc. now owns 1,403,151 shares of the medical technology company’s stock worth $1,388,000 after buying an additional 1,398,079 shares during the last quarter. Finally, Boston Research & Management Inc. raised its stake in shares of Medtronic by 4.5% during the third quarter. Boston Research & Management Inc. now owns 39,061 shares of the medical technology company’s stock worth $3,037,000 after buying an additional 1,676 shares during the last quarter. 81.19% of the stock is owned by institutional investors and hedge funds.

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In related news, Director James T. Lenehan sold 1,306 shares of the stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $83.56, for a total transaction of $109,129.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carol A. Surface sold 24,479 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $78.18, for a total transaction of $1,913,768.22. The disclosure for this sale can be found here. Insiders sold 130,469 shares of company stock valued at $11,016,054 in the last quarter. Corporate insiders own 0.31% of the company’s stock.

A number of research analysts recently issued reports on the stock. Oppenheimer restated a “buy” rating on shares of Medtronic in a report on Tuesday. Citigroup restated a “buy” rating and set a $93.00 price objective (down previously from $100.00) on shares of Medtronic in a report on Thursday, February 22nd. TheStreet cut shares of Medtronic from a “b” rating to a “c+” rating in a report on Tuesday, February 20th. Royal Bank of Canada restated an “outperform” rating and set a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 14th. Finally, Morgan Stanley boosted their price objective on shares of Medtronic from $91.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $91.50.

Medtronic stock opened at $80.04 on Thursday. The firm has a market cap of $108,294.30, a P/E ratio of 17.04, a PEG ratio of 2.27 and a beta of 0.97. Medtronic plc. has a 1-year low of $76.51 and a 1-year high of $89.72. The company has a quick ratio of 2.09, a current ratio of 2.43 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.01. The company had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.20 billion. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.12 earnings per share. sell-side analysts expect that Medtronic plc. will post 4.75 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 23rd will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, March 22nd. Medtronic’s dividend payout ratio (DPR) is presently 90.64%.

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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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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