Today, Medtronic PLC (MDT) Stake Boosted by First Trust Advisors LP

Today, Medtronic PLC (MDT) Stake Boosted by First Trust Advisors LP
First Trust Advisors LP raised its position in Medtronic PLC (NYSE:MDT) by 35.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,570 shares of the medical technology company’s stock after buying an additional 56,135 shares during the period. First Trust Advisors LP’s holdings in Medtronic PLC were worth $18,366,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Medtronic PLC by 1.6% in the second quarter. Vanguard Group Inc. now owns 95,677,703 shares of the medical technology company’s stock worth $8,301,954,000 after buying an additional 1,489,823 shares during the last quarter. FMR LLC increased its stake in shares of Medtronic PLC by 0.3% in the second quarter. FMR LLC now owns 76,043,424 shares of the medical technology company’s stock worth $6,598,288,000 after buying an additional 264,681 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Medtronic PLC by 1.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 49,795,064 shares of the medical technology company’s stock worth $4,320,717,000 after buying an additional 930,313 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Medtronic PLC by 3.9% in the second quarter. BlackRock Fund Advisors now owns 20,560,276 shares of the medical technology company’s stock worth $1,784,015,000 after buying an additional 771,920 shares during the last quarter. Finally, BlackRock Group LTD increased its stake in shares of Medtronic PLC by 0.6% in the second quarter. BlackRock Group LTD now owns 12,657,841 shares of the medical technology company’s stock worth $1,098,321,000 after buying an additional 79,612 shares during the last quarter. Hedge funds and other institutional investors own 81.25% of the company’s stock.

Medtronic PLC (NYSE:MDT) opened at 75.52 on Friday. The company has a 50-day moving average of $81.84 and a 200-day moving average of $84.68. Medtronic PLC has a 1-year low of $71.03 and a 1-year high of $89.27. The stock has a market capitalization of $104.36 billion, a price-to-earnings ratio of 29.39 and a beta of 1.01.

Medtronic PLC (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.01. Medtronic PLC had a net margin of 14.63% and a return on equity of 12.36%. The firm had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.46 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts anticipate that Medtronic PLC will post $4.63 earnings per share for the current fiscal year.

Several analysts have recently commented on MDT shares. Zacks Investment Research upgraded Medtronic PLC from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research note on Tuesday, August 9th. BMO Capital Markets reduced their target price on Medtronic PLC from $94.00 to $87.00 and set an “outperform” rating for the company in a research note on Wednesday. Deutsche Bank AG restated a “buy” rating on shares of Medtronic PLC in a research note on Monday, October 31st. Vetr upgraded Medtronic PLC from a “buy” rating to a “strong-buy” rating and set a $90.83 target price for the company in a research note on Tuesday, November 1st. Finally, Jefferies Group reduced their target price on Medtronic PLC from $100.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Medtronic PLC currently has an average rating of “Buy” and a consensus price target of $88.47.

In other news, VP Richard Kuntz sold 25,199 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $86.67, for a total transaction of $2,183,997.33. Following the sale, the vice president now owns 149,425 shares in the company, valued at $12,950,664.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James T. Lenehan purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The shares were purchased at an average price of $73.27 per share, for a total transaction of $146,540.00. The disclosure for this purchase can be found here. Insiders own 0.25% of the company’s stock.

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