STA Wealth Management LLC increased its holdings in Medtronic PLC (NYSE:MDT) by 9.4% during the 1st quarter, Holdings Channel reports. The firm owned 15,900 shares of the medical technology company’s stock after buying an additional 1,370 shares during the period. Medtronic makes up approximately 0.4% of STA Wealth Management LLC’s investment portfolio, making the stock its 24th biggest position. STA Wealth Management LLC’s holdings in Medtronic were worth $1,275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its position in Medtronic by 16.6% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 63,710 shares of the medical technology company’s stock valued at $5,145,000 after acquiring an additional 9,089 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Medtronic by 7.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 46,439 shares of the medical technology company’s stock valued at $3,725,000 after acquiring an additional 3,279 shares in the last quarter. Folger Hill Asset Management LP bought a new stake in Medtronic during the 4th quarter valued at approximately $1,825,000. Cohen Capital Management Inc. bought a new stake in Medtronic during the 1st quarter valued at approximately $5,522,000. Finally, IBM Retirement Fund boosted its position in Medtronic by 5.7% during the 4th quarter. IBM Retirement Fund now owns 35,969 shares of the medical technology company’s stock valued at $3,165,000 after acquiring an additional 1,947 shares in the last quarter. 80.34% of the stock is currently owned by institutional investors.

In related news, SVP Bradley E. Lerman sold 8,910 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $86.82, for a total value of $773,566.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard Kuntz sold 11,500 shares of the business’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $87.13, for a total transaction of $1,001,995.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Several analysts have weighed in on MDT shares. Morgan Stanley cut their price objective on Medtronic from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 29th. Oppenheimer reaffirmed a “buy” rating and set a $94.00 price objective on shares of Medtronic in a research report on Tuesday, February 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $92.00 price objective on shares of Medtronic in a research report on Wednesday, February 14th. TheStreet lowered shares of Medtronic from a “b” rating to a “c+” rating in a report on Tuesday, February 20th. Finally, William Blair began coverage on shares of Medtronic in a report on Wednesday, June 6th. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $92.82.

Shares of NYSE MDT opened at $86.11 on Thursday. Medtronic PLC has a twelve month low of $76.41 and a twelve month high of $89.72. The company has a market capitalization of $117.36 billion, a P/E ratio of 18.05, a PEG ratio of 2.37 and a beta of 0.94. The company has a quick ratio of 1.92, a current ratio of 2.28 and a debt-to-equity ratio of 0.47.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 24th. The medical technology company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Medtronic had a net margin of 10.36% and a return on equity of 12.84%. The company had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8 billion. During the same period in the previous year, the business earned $1.33 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. sell-side analysts expect that Medtronic PLC will post 5.12 earnings per share for the current fiscal year.

Medtronic Company Profile

Medtronic plc manufactures and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. The company's Cardiac and Vascular Group segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; diagnostics and monitoring devices; mechanical circulatory support, TYRX, and AF products; and remote monitoring and patient-centered software.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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