Raiffeisen Bank International AG Grows Holdings in Medtronic PLC $MDT

Raiffeisen Bank International AG grew its position in Medtronic PLC (NYSE:MDT) by 88.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,671 shares of the medical technology company’s stock after acquiring an additional 16,791 shares during the period. Raiffeisen Bank International AG’s holdings in Medtronic were worth $3,067,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of MDT. 1248 Management LLC purchased a new position in Medtronic during the first quarter worth approximately $26,000. Twin Tree Management LP purchased a new stake in shares of Medtronic in the first quarter valued at approximately $29,000. Activest Wealth Management increased its position in shares of Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares in the last quarter. Investment Management Corp VA ADV raised its stake in shares of Medtronic by 144.2% during the 1st quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock worth $36,000 after buying an additional 238 shares during the period. Finally, GFG Capital LLC purchased a new position in shares of Medtronic during the 2nd quarter valued at approximately $36,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

Shares of NYSE MDT opened at $96.52 on Tuesday. The firm has a 50-day simple moving average of $94.51 and a 200-day simple moving average of $90.52. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $123.80 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period in the previous year, the business posted $1.23 earnings per share. Medtronic’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on MDT. Citigroup boosted their price target on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. increased their price objective on shares of Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. UBS Group boosted their target price on shares of Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Wall Street Zen downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $98.00 price objective on shares of Medtronic in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and an average price target of $103.06.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at $461,850. This represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.26% of the company’s stock.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.