The Medtronic PLC (MDT) Stake Decreased by Vontobel Asset Management Inc.

The Medtronic PLC (MDT) Stake Decreased by Vontobel Asset Management Inc.

Vontobel Asset Management Inc. reduced its position in shares of Medtronic PLC (NYSE:MDT) by 5.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,150,565 shares of the medical technology company’s stock after selling 132,831 shares during the period. Medtronic PLC comprises about 1.5% of Vontobel Asset Management Inc.’s holdings, making the stock its 28th largest position. Vontobel Asset Management Inc.’s holdings in Medtronic PLC were worth $192,315,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Beach Investment Counsel Inc. PA raised its stake in shares of Medtronic PLC by 2.0% in the second quarter. Beach Investment Counsel Inc. PA now owns 282,436 shares of the medical technology company’s stock worth $24,507,000 after buying an additional 5,510 shares during the last quarter. Huntington National Bank raised its stake in shares of Medtronic PLC by 10.9% in the second quarter. Huntington National Bank now owns 227,847 shares of the medical technology company’s stock worth $19,769,000 after buying an additional 22,309 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Medtronic PLC by 5.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 123,450 shares of the medical technology company’s stock worth $10,713,000 after buying an additional 5,980 shares during the last quarter. Clarkston Capital Partners LLC raised its stake in shares of Medtronic PLC by 3.3% in the second quarter. Clarkston Capital Partners LLC now owns 120,828 shares of the medical technology company’s stock worth $10,484,000 after buying an additional 3,840 shares during the last quarter. Finally, Montag & Caldwell LLC raised its stake in shares of Medtronic PLC by 16.3% in the second quarter. Montag & Caldwell LLC now owns 2,318,700 shares of the medical technology company’s stock worth $201,194,000 after buying an additional 324,802 shares during the last quarter. 81.25% of the stock is currently owned by institutional investors.

Medtronic PLC (NYSE:MDT) traded down 0.34% during mid-day trading on Friday, hitting $75.52. 3,045,998 shares of the stock traded hands. Medtronic PLC has a 12-month low of $71.03 and a 12-month high of $89.27. The firm has a market cap of $104.36 billion, a PE ratio of 29.39 and a beta of 1.01. The stock has a 50 day moving average price of $81.84 and a 200 day moving average price of $84.68.

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 Thomson Reuters’ 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 business earned $7.35 billion during the quarter, compared to analyst estimates of $7.46 billion. During the same period in the previous year, the business posted $1.03 EPS. The company’s quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts expect that Medtronic PLC will post $4.63 earnings per share for the current fiscal year.

Several research firms have commented on MDT. Vetr upgraded shares of Medtronic PLC from a “buy” rating to a “strong-buy” rating and set a $90.83 price target for the company in a research note on Tuesday, November 1st. Deutsche Bank AG restated a “buy” rating on shares of Medtronic PLC in a research note on Monday, October 31st. Zacks Investment Research upgraded shares of Medtronic PLC from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research note on Wednesday, October 26th. Oppenheimer Holdings Inc. set a $94.00 price target on shares of Medtronic PLC and gave the stock a “buy” rating in a research note on Tuesday, November 22nd. Finally, Credit Suisse Group AG restated an “outperform” rating and issued a $92.00 price target on shares of Medtronic PLC in a research note on Thursday, August 25th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $88.47.

In other news, EVP Bryan C. Hanson sold 15,000 shares of Medtronic PLC stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $87.00, for a total value of $1,305,000.00. Following the completion of the transaction, the executive vice president now directly owns 168,192 shares of the company’s stock, valued at approximately $14,632,704. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James T. Lenehan purchased 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The stock was acquired at an average cost of $73.27 per share, with a total value of $146,540.00. The disclosure for this purchase 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.

Related posts

Leave a Comment