Medtronic PLC (MDT) Shares Bought by Millie Capital Management LLC
Millie Capital Management LLC lifted its stake in Medtronic PLC (NYSE:MDT) by 10.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,530 shares of the medical technology company’s stock after buying an additional 2,178 shares during the quarter. Medtronic makes up about 1.8% of Millie Capital Management LLC’s investment portfolio, making the stock its 26th largest position. Millie Capital Management LLC’s holdings in Medtronic were worth $2,088,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its stake in Medtronic by 22.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after purchasing an additional 210 shares in the last quarter. BDO Wealth Advisors LLC purchased a new stake in Medtronic during the second quarter valued at $103,000. Motco raised its stake in Medtronic by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after purchasing an additional 99 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Medtronic by 21.5% during the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after purchasing an additional 290 shares in the last quarter. Finally, Israel Discount Bank of New York purchased a new stake in Medtronic during the first quarter valued at $117,000. 81.14% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Medtronic PLC (NYSE MDT) traded up $0.91 on Monday, hitting $83.25. 3,165,600 shares of the stock traded hands, compared to its average volume of 4,928,044. The company has a current ratio of 2.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $112,686.54, a P/E ratio of 17.94, a P/E/G ratio of 2.20 and a beta of 1.00. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72.
Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. The firm had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.12 earnings per share. sell-side analysts forecast that Medtronic PLC will post 4.77 EPS for the current year.
A number of equities research analysts recently issued reports on MDT shares. Needham & Company LLC reaffirmed a “buy” rating and set a $94.00 price target on shares of Medtronic in a research note on Thursday, November 9th. BidaskClub downgraded shares of Medtronic from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Zacks Investment Research downgraded shares of Medtronic from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. SunTrust Banks, Inc. set a $92.00 target price on shares of Medtronic and gave the company a “buy” rating in a research note on Sunday, November 19th. Finally, Royal Bank Of Canada reduced their target price on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company. Medtronic currently has an average rating of “Hold” and an average price target of $88.02.
In other news, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction dated 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 $54,569,899.89. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $79.02, for a total transaction of $1,264,320.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 172,407 shares of company stock worth $13,974,223. Company insiders own 0.31% of the company’s stock.
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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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