Kelman Lazarov Inc. boosted its stake in Medtronic PLC (NYSE:MDT) by 8.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,642 shares of the medical technology company’s stock after buying an additional 125 shares during the period. Kelman Lazarov Inc.’s holdings in Medtronic PLC were worth $141,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Boothbay Fund Management LLC boosted its position in Medtronic PLC by 30.4% in the first quarter. Boothbay Fund Management LLC now owns 3,657 shares of the medical technology company’s stock valued at $274,000 after buying an additional 852 shares during the last quarter. Kistler Tiffany Companies LLC boosted its position in Medtronic PLC by 2.1% in the second quarter. Kistler Tiffany Companies LLC now owns 1,776 shares of the medical technology company’s stock valued at $154,000 after buying an additional 36 shares during the last quarter. Deane Retirement Strategies Inc. bought a new position in Medtronic PLC during the second quarter valued at approximately $2,505,000. Howland Capital Management LLC boosted its position in Medtronic PLC by 1.2% in the second quarter. Howland Capital Management LLC now owns 178,789 shares of the medical technology company’s stock valued at $15,514,000 after buying an additional 2,139 shares during the last quarter. Finally, Rosenbaum Jay D. boosted its position in Medtronic PLC by 5.7% in the second quarter. Rosenbaum Jay D. now owns 15,225 shares of the medical technology company’s stock valued at $1,321,000 after buying an additional 815 shares during the last quarter. 81.25% of the stock is owned by institutional investors and hedge funds.
Shares of Medtronic PLC (NYSE:MDT) traded down 0.34% during mid-day trading on Friday, reaching $75.52. 3,045,998 shares of the company’s stock traded hands. Medtronic PLC has a 12 month low of $71.03 and a 12 month high of $89.27. The company has a 50 day moving average of $81.84 and a 200 day moving average of $84.68. The company has a market cap of $104.36 billion, a price-to-earnings ratio of 29.39 and a beta of 1.01.
Medtronic PLC (NYSE:MDT) last issued its earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.01. The firm earned $7.35 billion during the quarter, compared to the consensus estimate of $7.46 billion. Medtronic PLC had a return on equity of 12.36% and a net margin of 14.63%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Analysts expect that Medtronic PLC will post $4.63 earnings per share for the current fiscal year.
Several equities analysts recently commented on MDT shares. Vetr cut shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating and set a $91.28 target price for the company. in a research note on Monday, November 21st. Zacks Investment Research cut shares of Medtronic PLC from a “buy” rating to a “hold” rating in a research note on Friday, November 11th. Credit Suisse Group AG restated an “outperform” rating and issued a $92.00 price objective on shares of Medtronic PLC in a research note on Thursday, August 25th. Needham & Company LLC restated a “buy” rating and issued a $84.00 price objective (down previously from $95.00) on shares of Medtronic PLC in a research note on Tuesday. Finally, Citigroup Inc. started coverage on shares of Medtronic PLC in a research note on Tuesday, August 23rd. They issued a “buy” rating and a $102.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $88.47.
In other news, Director James T. Lenehan purchased 2,000 shares of Medtronic PLC stock in a transaction dated Wednesday, November 23rd. The shares were bought at an average cost of $73.27 per share, for a total transaction of $146,540.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard Kuntz sold 25,199 shares of the business’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $86.67, for a total value 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 disclosure for this sale can be found here. Insiders own 0.25% 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.