Medtronic PLC (MDT) Stake Lessened by Huntington National Bank
Huntington National Bank trimmed its holdings in Medtronic PLC (NYSE:MDT) by 10.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,521 shares of the medical technology company’s stock after selling 13,914 shares during the period. Huntington National Bank’s holdings in Medtronic were worth $9,214,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its stake in Medtronic by 22.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after acquiring an additional 210 shares during the period. BDO Wealth Advisors LLC bought a new position in shares of Medtronic in the 2nd quarter valued at $103,000. Motco grew its position in Medtronic by 8.7% during the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after acquiring an additional 99 shares during the last quarter. Quadrant Capital Group LLC grew its position in Medtronic by 21.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after acquiring an additional 290 shares during the last quarter. Finally, Israel Discount Bank of New York bought a new stake in Medtronic during the 1st quarter worth $117,000. 81.85% of the stock is owned by institutional investors.
Several research analysts have commented on the company. BidaskClub raised Medtronic from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $90.00 target price on shares of Medtronic in a report on Monday, August 21st. Oppenheimer reissued a “buy” rating and issued a $92.00 price objective on shares of Medtronic in a research note on Tuesday, August 22nd. Cowen set a $95.00 price objective on Medtronic and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $92.00 price objective (down from $94.00) on shares of Medtronic in a research note on Wednesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $88.02.
Shares of Medtronic PLC (NYSE:MDT) traded up $1.05 on Wednesday, reaching $80.92. The company’s stock had a trading volume of 5,392,200 shares, compared to its average volume of 4,959,266. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05. The company has a market cap of $108,103.88, a price-to-earnings ratio of 17.21, 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 issued its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The firm had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 EPS. analysts expect that Medtronic PLC will post 4.77 earnings per share for the current year.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $78.03, for a total value of $1,248,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The disclosure for this sale can be found here. Insiders have sold a total of 172,407 shares of company stock valued at $13,974,223 over the last three months. Corporate 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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