Medtronic PLC (MDT) Holdings Reduced by Copeland Capital Management LLC
Copeland Capital Management LLC cut its position in shares of Medtronic PLC (NYSE:MDT) by 19.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,326 shares of the medical technology company’s stock after selling 18,429 shares during the period. Copeland Capital Management LLC’s holdings in Medtronic were worth $6,092,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MDT. BlackRock Inc. boosted its stake in Medtronic by 2,513.4% in the 1st quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock valued at $7,011,571,000 after buying an additional 83,705,052 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Medtronic by 1,061.4% in the 1st quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock valued at $1,101,960,000 after buying an additional 12,500,992 shares in the last quarter. Vanguard Group Inc. boosted its stake in Medtronic by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock valued at $8,243,034,000 after buying an additional 4,412,536 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Medtronic by 135.5% in the 2nd quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock valued at $538,727,000 after buying an additional 3,493,058 shares in the last quarter. Finally, Sanders Capital LLC boosted its stake in Medtronic by 43.7% in the 2nd quarter. Sanders Capital LLC now owns 6,670,948 shares of the medical technology company’s stock valued at $651,800,000 after buying an additional 2,027,147 shares in the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.
Medtronic PLC (NYSE MDT) traded up $0.50 during trading on Friday, reaching $81.07. The company’s stock had a trading volume of 4,072,036 shares, compared to its average volume of 5,429,112. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $109,728.09, a price-to-earnings ratio of 17.47, a P/E/G ratio of 2.24 and a beta of 1.00. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. equities analysts forecast that Medtronic PLC will post 4.77 EPS for the current year.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the transaction, the chief executive officer now directly owns 668,503 shares in the company, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. Insiders have sold 172,407 shares of company stock worth $13,974,223 in the last ninety days. 0.31% of the stock is currently owned by insiders.
Several analysts recently commented on the company. Oppenheimer reaffirmed a “buy” rating and issued a $92.00 price target on shares of Medtronic in a research note on Tuesday, August 22nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $89.00 price target (down previously from $92.00) on shares of Medtronic in a research note on Tuesday, October 10th. SunTrust Banks reaffirmed a “buy” rating and issued a $96.00 price target on shares of Medtronic in a research note on Friday, November 3rd. Stifel Nicolaus boosted their price target on Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, November 22nd. Finally, Needham & Company LLC decreased their price target on Medtronic from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $88.02.
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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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