Meyer Handelman Co. Continues to Hold Position in Medtronic PLC (MDT)
Meyer Handelman Co. continued to hold its stake in shares of Medtronic PLC (NYSE:MDT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 holdings, 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.
A number of other large investors also recently modified their holdings of MDT. Krilogy Financial LLC increased 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 during the period. Proficio Capital Partners LLC increased 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 during the period. Kelman Lazarov Inc. increased 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 during the period. Farmers National Bank bought a new stake in shares of Medtronic PLC during the second quarter worth about $132,000. Finally, Mycio Wealth Partners LLC increased 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 during the period. Institutional investors and hedge funds own 80.95% of the company’s stock.
Medtronic PLC (NYSE:MDT) traded down 1.68% during trading on Monday, hitting $74.25. The company’s stock had a trading volume of 3,994,738 shares. The company has a 50-day moving average of $81.84 and a 200 day moving average of $84.68. The firm has a market cap of $102.61 billion, a PE ratio of 28.89 and a beta of 1.01. Medtronic PLC has a one year low of $71.03 and a one year high of $89.27.
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 analysts’ consensus estimates 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 net margin of 14.63% and a return on equity of 12.36%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 earnings per share. On average, equities analysts forecast that Medtronic PLC will post $4.63 earnings per share for the current year.
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A number of brokerages have issued reports on MDT. Deutsche Bank AG restated a “buy” rating on shares of Medtronic PLC in a research report on Monday, October 31st. Jefferies Group reduced their price target on Medtronic PLC from $100.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, November 23rd. Oppenheimer Holdings Inc. reduced their price target on Medtronic PLC from $94.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, November 23rd. BMO Capital Markets reduced their price target on Medtronic PLC from $94.00 to $87.00 and set an “outperform” rating on the stock in a report on Wednesday, November 23rd. Finally, Barclays PLC reduced their price target on Medtronic PLC from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, November 23rd. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $88.19.
In related news, VP Richard Kuntz sold 17,141 shares of the business’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 owns 149,425 shares in the company, valued at $12,955,147.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James T. Lenehan bought 2,000 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The shares were 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. Corporate 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.
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