Medtronic PLC (MDT) Stake Lowered by Vontobel Asset Management Inc.
Vontobel Asset Management Inc. reduced its position in 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 institutional investor owned 2,150,565 shares of the medical technology company’s stock after selling 132,831 shares during the period. Medtronic PLC accounts for approximately 1.5% of Vontobel Asset Management Inc.’s holdings, making the stock its 28th largest position. Vontobel Asset Management Inc. owned approximately 0.16% of Medtronic PLC worth $192,315,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Krilogy Financial LLC raised its stake in shares of Medtronic PLC by 35.2% in the second quarter. Krilogy Financial LLC now owns 1,163 shares of the medical technology company’s stock worth $101,000 after buying an additional 303 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of Medtronic PLC by 44.5% in the second quarter. Proficio Capital Partners LLC now owns 1,497 shares of the medical technology company’s stock worth $131,000 after buying an additional 461 shares in the last quarter. Kelman Lazarov Inc. raised its stake in shares of Medtronic PLC by 17.4% in the second quarter. Kelman Lazarov Inc. now owns 1,517 shares of the medical technology company’s stock worth $132,000 after buying an additional 225 shares in the last quarter. Farmers National Bank acquired a new stake in shares of Medtronic PLC during the second quarter worth $132,000. Finally, Mycio Wealth Partners LLC raised its stake in shares of Medtronic PLC by 4.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,558 shares of the medical technology company’s stock worth $135,000 after buying an additional 65 shares in the last quarter. 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. The stock had a trading volume of 3,045,998 shares. Medtronic PLC has a 52-week low of $71.03 and a 52-week high of $89.27. The firm’s 50-day moving average price is $81.84 and its 200-day moving average price is $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 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.01. The company earned $7.35 billion during the quarter, compared to analyst estimates of $7.46 billion. Medtronic PLC had a return on equity of 12.36% and a net margin of 14.63%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. Analysts predict that Medtronic PLC will post $4.63 EPS for the current fiscal year.
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A number of brokerages have recently weighed in on MDT. Needham & Company LLC lifted their price objective on Medtronic PLC from $93.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, August 25th. Vetr cut 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. Jefferies Group restated a “buy” rating and issued a $93.00 target price on shares of Medtronic PLC in a research note on Thursday, August 25th. Stifel Nicolaus lowered their target price on Medtronic PLC from $91.00 to $81.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Cowen and Company set a $94.00 target price on Medtronic PLC and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Medtronic PLC has a consensus rating of “Buy” and a consensus price target of $88.47.
In related news, VP Richard Kuntz sold 17,141 shares of the firm’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $86.70, for a total value of $1,486,124.70. Following the completion of the transaction, the vice president now owns 149,425 shares in the company, valued at approximately $12,955,147.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James T. Lenehan bought 2,000 shares of Medtronic PLC stock in a transaction that occurred on Wednesday, November 23rd. The stock was purchased 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. 0.25% of the stock is owned by corporate 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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