Raymond James Financial Services Advisors Inc. Has $16.29 Million Holdings in Medtronic PLC (MDT)
Raymond James Financial Services Advisors Inc. raised its stake in Medtronic PLC (NYSE:MDT) by 6.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 183,514 shares of the medical technology company’s stock after acquiring an additional 10,781 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Medtronic PLC were worth $16,287,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Captrust Financial Advisors purchased a new stake in shares of Medtronic PLC in the second quarter valued at approximately $384,000. Wesbanco Bank Inc. increased its position in shares of Medtronic PLC by 3.1% in the second quarter. Wesbanco Bank Inc. now owns 10,170 shares of the medical technology company’s stock valued at $903,000 after buying an additional 308 shares in the last quarter. Dupont Capital Management Corp increased its position in shares of Medtronic PLC by 28.8% in the second quarter. Dupont Capital Management Corp now owns 74,052 shares of the medical technology company’s stock valued at $6,572,000 after buying an additional 16,562 shares in the last quarter. Chilton Investment Co. LLC increased its position in shares of Medtronic PLC by 6.1% in the second quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock valued at $2,382,000 after buying an additional 1,538 shares in the last quarter. Finally, RMB Capital Management LLC purchased a new stake in shares of Medtronic PLC in the first quarter valued at approximately $4,576,000. 81.14% of the stock is owned by institutional investors.
A number of analysts have recently commented on MDT shares. Needham & Company LLC restated a “buy” rating and issued a $94.00 price objective on shares of Medtronic PLC in a research report on Thursday, November 9th. BidaskClub cut Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Zacks Investment Research cut Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. SunTrust Banks, Inc. set a $92.00 price objective on Medtronic PLC and gave the company a “buy” rating in a research report on Sunday. Finally, Royal Bank Of Canada cut their price objective on Medtronic PLC from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $87.88.
Medtronic PLC (NYSE MDT) opened at $82.34 on Thursday. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The company has a market capitalization of $111,970.49, a price-to-earnings ratio of 17.82, a PEG ratio of 2.18 and a beta of 1.00. The company has a quick ratio of 1.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.50.
Medtronic PLC (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Medtronic PLC had a return on equity of 12.63% and a net margin of 16.93%. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the company posted $1.12 EPS. The company’s quarterly revenue was down 4.0% on a year-over-year basis. sell-side analysts expect that Medtronic PLC will post 4.78 earnings per share for the current year.
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In other news, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction on Friday, September 15th. The stock was 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 owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,407 shares of company stock worth $13,974,223. Corporate insiders own 0.31% of the company’s stock.
Medtronic PLC 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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