US Bancorp DE raised its position in shares of Medtronic PLC (NYSE:MDT) by 1.1% in the first quarter, HoldingsChannel reports. The firm owned 999,044 shares of the medical technology company’s stock after acquiring an additional 10,539 shares during the period. US Bancorp DE’s holdings in Medtronic were worth $90,993,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDT. Olstein Capital Management L.P. raised its position in shares of Medtronic by 11.3% in the 1st quarter. Olstein Capital Management L.P. now owns 69,000 shares of the medical technology company’s stock worth $6,285,000 after acquiring an additional 7,000 shares in the last quarter. Edgemoor Investment Advisors Inc. raised its position in shares of Medtronic by 2.3% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 84,720 shares of the medical technology company’s stock worth $7,716,000 after acquiring an additional 1,936 shares in the last quarter. Thomas White International Ltd. bought a new position in shares of Medtronic in the 1st quarter worth $727,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of Medtronic by 3.9% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,948 shares of the medical technology company’s stock worth $449,000 after acquiring an additional 188 shares in the last quarter. Finally, Boyer & Corporon Wealth Management LLC raised its position in shares of Medtronic by 1.5% in the 1st quarter. Boyer & Corporon Wealth Management LLC now owns 50,028 shares of the medical technology company’s stock worth $4,556,000 after acquiring an additional 728 shares in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:MDT opened at $92.58 on Friday. Medtronic PLC has a 1 year low of $81.66 and a 1 year high of $100.15. The stock has a market cap of $124.16 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78. The company has a current ratio of 2.59, a quick ratio of 2.15 and a debt-to-equity ratio of 0.49.

Medtronic (NYSE:MDT) last announced its earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.07. Medtronic had a return on equity of 14.16% and a net margin of 15.15%. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.12 billion. During the same period in the prior year, the company posted $1.42 EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year. Research analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Several research firms have recently commented on MDT. Zacks Investment Research raised Medtronic from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. Needham & Company LLC reissued a “strong-buy” rating and issued a $117.00 price target (down from $120.00) on shares of Medtronic in a research report on Monday, February 4th. Royal Bank of Canada reduced their price target on Medtronic to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Northland Securities reissued a “hold” rating and issued a $84.00 price target on shares of Medtronic in a research report on Monday, March 18th. Finally, Barclays reissued a “buy” rating and issued a $104.00 price target on shares of Medtronic in a research report on Wednesday, February 20th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Medtronic currently has an average rating of “Buy” and a consensus target price of $103.50.

In other Medtronic news, EVP Hoedt Rob Ten sold 9,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $91.88, for a total transaction of $826,920.00. Following the sale, the executive vice president now owns 58,785 shares in the company, valued at approximately $5,401,165.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard H. Anderson purchased 10,900 shares of the company’s stock in a transaction on Friday, May 24th. The shares were purchased at an average price of $92.40 per share, for a total transaction of $1,007,160.00. Following the purchase, the director now owns 89,912 shares in the company, valued at approximately $8,307,868.80. The disclosure for this purchase can be found here. Corporate insiders own 0.28% of the company’s stock.

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Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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