Trade Report: Today, Quadrant Capital Management LLC Reached $2,867,000 position of Medtronic PLC (MDT)

Today, Quadrant Capital Management LLC Reached $2,867,000 position  of Medtronic PLC (MDT)

Quadrant Capital Management LLC lowered its stake in shares of Medtronic PLC (NYSE:MDT) by 0.6% during the third quarter, Holdings Channel reports. The institutional investor owned 33,185 shares of the medical technology company’s stock after selling 190 shares during the period. Medtronic PLC accounts for approximately 2.4% of Quadrant Capital Management LLC’s portfolio, making the stock its 11th largest position. Quadrant Capital Management LLC’s holdings in Medtronic PLC were worth $2,867,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Emerald Acquisition Ltd. purchased a new position in shares of Medtronic PLC during the second quarter worth about $363,065,000. Janus Capital Management LLC raised its position in shares of Medtronic PLC by 356.8% in the second quarter. Janus Capital Management LLC now owns 4,004,962 shares of the medical technology company’s stock worth $347,508,000 after buying an additional 3,128,250 shares during the period. Standard Life Investments LTD raised its position in shares of Medtronic PLC by 4,597.8% in the second quarter. Standard Life Investments LTD now owns 2,419,371 shares of the medical technology company’s stock worth $209,954,000 after buying an additional 2,367,871 shares during the period. Tesco Pension Investment Ltd purchased a new position in shares of Medtronic PLC during the third quarter worth about $198,656,000. Finally, Bank of Montreal Can purchased a new position in shares of Medtronic PLC during the second quarter worth about $168,956,000. Hedge funds and other institutional investors own 81.25% of the company’s stock.

Medtronic PLC (NYSE:MDT) traded down 0.34% during trading on Friday, hitting $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 firm’s 50-day moving average price is $82.26 and its 200 day moving average price is $84.71. The stock has a market cap of $104.36 billion, a P/E ratio of 29.39 and a beta of 1.01.

Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.11 by $0.01. The business had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.46 billion. Medtronic PLC had a net margin of 14.63% and a return on equity of 12.30%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 earnings per share. Analysts anticipate that Medtronic PLC will post $4.63 earnings per share for the current fiscal year.

Several brokerages have weighed in on MDT. Deutsche Bank AG reaffirmed a “buy” rating on shares of Medtronic PLC in a research report on Monday, October 31st. Jefferies Group cut their price target on Medtronic PLC from $100.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday. Oppenheimer Holdings Inc. cut their price target on Medtronic PLC from $94.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday. BMO Capital Markets cut their price target on Medtronic PLC from $94.00 to $87.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Barclays PLC cut their price target on Medtronic PLC from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Medtronic PLC has an average rating of “Buy” and an average price target of $88.47.

In related news, EVP Bryan C. Hanson sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $87.00, for a total transaction of $1,305,000.00. Following the transaction, the executive vice president now owns 168,192 shares of the company’s stock, valued at $14,632,704. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Kuntz sold 25,199 shares of the company’s 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 transaction, the vice president now directly owns 149,425 shares in the company, valued at approximately $12,950,664.75. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

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.

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