Stanley Laman Group Ltd. Boosts Stock Holdings in Medtronic plc (NYSE:MDT)


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Stanley Laman Group Ltd. grew its position in shares of Medtronic plc (NYSE:MDT) by 2.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 32,159 shares of the medical technology company’s stock after purchasing an additional 684 shares during the period. Stanley Laman Group Ltd.’s holdings in Medtronic were worth $3,767,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Meridian Wealth Management LLC boosted its holdings in Medtronic by 34.1% in the fourth quarter. Meridian Wealth Management LLC now owns 3,566 shares of the medical technology company’s stock worth $417,000 after purchasing an additional 906 shares during the last quarter. Toth Financial Advisory Corp boosted its holdings in Medtronic by 2.0% in the fourth quarter. Toth Financial Advisory Corp now owns 63,711 shares of the medical technology company’s stock worth $7,463,000 after purchasing an additional 1,241 shares during the last quarter. RNC Capital Management LLC purchased a new stake in Medtronic in the fourth quarter worth approximately $2,249,000. Peapack Gladstone Financial Corp boosted its holdings in Medtronic by 0.9% in the third quarter. Peapack Gladstone Financial Corp now owns 50,583 shares of the medical technology company’s stock worth $5,256,000 after purchasing an additional 433 shares during the last quarter. Finally, First City Capital Management Inc. boosted its holdings in Medtronic by 88.9% in the third quarter. First City Capital Management Inc. now owns 13,157 shares of the medical technology company’s stock worth $1,415,000 after purchasing an additional 6,191 shares during the last quarter. Hedge funds and other institutional investors own 79.17% of the company’s stock.

In other Medtronic news, EVP Robert John White sold 10,930 shares of Medtronic stock in a transaction on Friday, December 18th. The shares were sold at an average price of $115.46, for a total value of $1,261,977.80. Following the completion of the transaction, the executive vice president now directly owns 55,852 shares of the company’s stock, valued at approximately $6,448,671.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Carol A. Surface sold 15,000 shares of Medtronic stock in a transaction on Monday, December 28th. The stock was sold at an average price of $114.90, for a total transaction of $1,723,500.00. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.

Shares of NYSE:MDT traded up $2.96 on Tuesday, reaching $118.71. The company’s stock had a trading volume of 195,985 shares, compared to its average volume of 4,571,249. Medtronic plc has a 52-week low of $72.13 and a 52-week high of $120.53. The company has a market cap of $159.79 billion, a P/E ratio of 44.18, a PEG ratio of 3.65 and a beta of 0.70. The company has a 50-day simple moving average of $116.82 and a 200 day simple moving average of $110.18. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.79 and a current ratio of 2.16.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 23rd. The medical technology company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.14. Medtronic had a net margin of 12.69% and a return on equity of 9.71%. The business had revenue of $7.78 billion during the quarter, compared to analysts’ expectations of $7.77 billion. During the same period last year, the company posted $1.44 EPS. The business’s revenue was up .8% on a year-over-year basis. On average, equities research analysts forecast that Medtronic plc will post 4.21 EPS for the current fiscal year.

MDT has been the topic of several research reports. Truist raised their target price on shares of Medtronic to $128.00 and gave the stock a “buy” rating in a report on Wednesday, November 25th. Stifel Nicolaus increased their price target on shares of Medtronic from $125.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, November 25th. Piper Sandler increased their price target on shares of Medtronic from $120.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 24th. Morgan Stanley upgraded shares of Medtronic from an “equal weight” rating to an “overweight” rating and set a $140.00 price target on the stock in a research report on Tuesday, December 15th. Finally, SVB Leerink increased their price target on shares of Medtronic from $110.00 to $123.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $120.93.

Medtronic Company 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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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