Sawtooth Solutions LLC boosted its position in shares of Medtronic PLC (NYSE:MDT) by 24.8% in the first quarter, HoldingsChannel.com reports. The fund owned 7,562 shares of the medical technology company’s stock after acquiring an additional 1,503 shares during the quarter. Sawtooth Solutions LLC’s holdings in Medtronic were worth $689,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Hanson McClain Inc. lifted its holdings in Medtronic by 1.7% in the fourth quarter. Hanson McClain Inc. now owns 7,321 shares of the medical technology company’s stock valued at $666,000 after acquiring an additional 125 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in Medtronic by 3.1% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 4,129 shares of the medical technology company’s stock valued at $376,000 after acquiring an additional 126 shares during the last quarter. Abbrea Capital LLC lifted its holdings in Medtronic by 3.0% in the fourth quarter. Abbrea Capital LLC now owns 4,384 shares of the medical technology company’s stock valued at $401,000 after acquiring an additional 128 shares during the last quarter. Hanson & Doremus Investment Management lifted its holdings in Medtronic by 0.9% in the first quarter. Hanson & Doremus Investment Management now owns 14,416 shares of the medical technology company’s stock valued at $1,313,000 after acquiring an additional 128 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Medtronic by 9.8% in the first quarter. Parkside Financial Bank & Trust now owns 1,432 shares of the medical technology company’s stock valued at $131,000 after acquiring an additional 128 shares during the last quarter. 80.10% of the stock is owned by institutional investors.

In other Medtronic news, EVP Geoffrey Martha sold 11,000 shares of Medtronic stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $96.05, for a total value of $1,056,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard H. Anderson bought 10,900 shares of the stock in a transaction on Friday, May 24th. The stock was purchased at an average cost of $92.40 per share, with a total value of $1,007,160.00. Following the completion of the purchase, the director now directly owns 89,912 shares in the company, valued at approximately $8,307,868.80. The disclosure for this purchase can be found here. Company insiders own 0.28% of the company’s stock.

A number of research firms have commented on MDT. Barclays restated a “buy” rating and set a $104.00 price target on shares of Medtronic in a research note on Wednesday, February 20th. Oppenheimer set a $104.00 price target on Medtronic and gave the stock a “buy” rating in a research note on Wednesday, February 20th. UBS Group upped their price target on Medtronic to $112.00 and gave the stock a “buy” rating in a research note on Friday. Needham & Company LLC restated a “buy” rating and set a $121.00 price target on shares of Medtronic in a research note on Monday, May 27th. Finally, Zacks Investment Research upgraded Medtronic from a “sell” rating to a “hold” rating in a research note on Monday, May 20th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $103.95.

Shares of NYSE:MDT opened at $97.50 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.59 and a quick ratio of 2.15. The stock has a market capitalization of $130.80 billion, a P/E ratio of 18.68, a PEG ratio of 2.51 and a beta of 0.68. Medtronic PLC has a 52 week low of $81.66 and a 52 week high of $100.15.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.07. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.12 billion. During the same period last year, the firm earned $1.42 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, sell-side analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

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Medtronic 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.

Further Reading: What is a Buy-Side Analyst?

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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