Today, Meyer Handelman Co. Continues to Hold Position in Medtronic PLC (MDT)

Today, Meyer Handelman Co. Continues to Hold Position in Medtronic PLC (MDT)

Meyer Handelman Co. held its position in shares of Medtronic PLC (NYSE:MDT) during the third quarter, according to its most recent disclosure with the SEC. The firm owned 306,396 shares of the medical technology company’s stock at the end of the third quarter. Medtronic PLC comprises 1.2% of Meyer Handelman Co.’s portfolio, making the stock its 27th largest position. Meyer Handelman Co.’s holdings in Medtronic PLC were worth $26,472,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. CIBC World Markets Inc. boosted its position in shares of Medtronic PLC by 1.2% in the third quarter. CIBC World Markets Inc. now owns 56,155 shares of the medical technology company’s stock worth $4,852,000 after buying an additional 644 shares during the period. Redwood Investments LLC purchased a new stake in shares of Medtronic PLC during the third quarter worth about $219,000. WASHINGTON TRUST Co raised its stake in shares of Medtronic PLC by 2.1% in the third quarter. WASHINGTON TRUST Co now owns 94,703 shares of the medical technology company’s stock worth $8,183,000 after buying an additional 1,938 shares during the period. Cliftonlarsonallen Wealth Advisors LLC raised its stake in shares of Medtronic PLC by 6.2% in the third quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 10,893 shares of the medical technology company’s stock worth $941,000 after buying an additional 634 shares during the period. Finally, Crestwood Advisors LLC raised its stake in shares of Medtronic PLC by 3.1% in the third quarter. Crestwood Advisors LLC now owns 244,876 shares of the medical technology company’s stock worth $21,157,000 after buying an additional 7,473 shares during the period. 80.95% of the stock is owned by institutional investors and hedge funds.

Medtronic PLC (NYSE:MDT) traded down 1.68% on Monday, reaching $74.25. 3,994,738 shares of the company’s stock were exchanged. Medtronic PLC has a 12 month low of $71.03 and a 12 month high of $89.27. The firm has a 50-day moving average of $81.84 and a 200-day moving average of $84.68. The firm has a market capitalization of $102.61 billion, a price-to-earnings ratio of 28.89 and a beta of 1.01.

Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.01. The business earned $7.35 billion during the quarter, compared to the consensus estimate of $7.46 billion. Medtronic PLC had a net margin of 14.63% and a return on equity of 12.36%. Medtronic PLC’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. On average, equities analysts expect that Medtronic PLC will post $4.63 earnings per share for the current year.

A number of analysts recently issued reports on MDT shares. Vetr lowered shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating and set a $91.28 target price on the stock. in a research report on Monday, November 21st. Zacks Investment Research lowered shares of Medtronic PLC from a “buy” rating to a “hold” rating in a research report on Friday, November 11th. Evercore ISI restated a “buy” rating and set a $80.00 target price (down previously from $94.00) on shares of Medtronic PLC in a research report on Monday. Credit Suisse Group AG restated an “outperform” rating and set a $92.00 target price on shares of Medtronic PLC in a research report on Thursday, August 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $84.00 target price (down previously from $95.00) on shares of Medtronic PLC in a research report on Tuesday, November 22nd. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $88.19.

In related news, VP Richard Kuntz sold 17,141 shares of the company’s stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $86.70, for a total transaction of $1,486,124.70. Following the completion of the transaction, the vice president now directly owns 149,425 shares in the company, valued at approximately $12,955,147.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James T. Lenehan bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were bought at an average price of $73.27 per share, with a total value of $146,540.00. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company’s stock.

About Medtronic PLC

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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