Raymond James Financial Services Advisors Inc. Raises Position in Medtronic PLC (MDT)
Raymond James Financial Services Advisors Inc. boosted its holdings in Medtronic PLC (NYSE:MDT) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 187,778 shares of the medical technology company’s stock after acquiring an additional 4,264 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Medtronic were worth $14,604,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Parkside Financial Bank & Trust boosted its stake in shares of 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 purchasing an additional 210 shares during the last quarter. BDO Wealth Advisors LLC purchased a new position in shares of Medtronic during the 2nd quarter worth about $103,000. Motco lifted its holdings in shares of 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 period. Farmers National Bank purchased a new position in shares of Medtronic during the 1st quarter worth about $121,000. Finally, Israel Discount Bank of New York purchased a new position in shares of Medtronic during the 1st quarter worth about $117,000. 81.85% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the stock. Jefferies Group reiterated a “buy” rating and set a $96.00 price objective on shares of Medtronic in a report on Thursday, September 28th. SunTrust Banks reiterated a “buy” rating and set a $96.00 price objective on shares of Medtronic in a report on Monday, October 2nd. Zacks Investment Research lowered shares of Medtronic from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Cowen set a $95.00 price target on shares of Medtronic and gave the company a “buy” rating in a report on Tuesday, August 22nd. Finally, Stifel Nicolaus cut their price target on shares of Medtronic from $91.00 to $83.00 and set a “hold” rating on the stock in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $88.02.
Medtronic PLC (MDT) traded down $0.93 during mid-day trading on Friday, hitting $80.57. 5,497,500 shares of the stock were exchanged, compared to its average volume of 4,962,533. Medtronic PLC has a twelve month low of $69.35 and a twelve month high of $89.72. 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 firm has a market capitalization of $110,310.08, a P/E ratio of 17.57, a P/E/G ratio of 2.25 and a beta of 1.00.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The business had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter last year, the company earned $1.12 earnings per share. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. research analysts forecast that Medtronic PLC will post 4.77 EPS for the current fiscal year.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the sale, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. Insiders have sold 172,407 shares of company stock valued at $13,974,223 in 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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