Raymond James Trust N.A. raised its position in Medtronic PLC (NYSE:MDT) by 6.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,649 shares of the medical technology company’s stock after buying an additional 1,450 shares during the period. Raymond James Trust N.A.’s holdings in Medtronic PLC were worth $2,130,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MDT. Franklin Street Advisors Inc. NC increased its position in shares of Medtronic PLC by 19.1% in the second quarter. Franklin Street Advisors Inc. NC now owns 92,478 shares of the medical technology company’s stock worth $8,024,000 after buying an additional 14,814 shares during the period. Webster Bank N. A. increased its position in shares of Medtronic PLC by 0.6% in the second quarter. Webster Bank N. A. now owns 8,800 shares of the medical technology company’s stock worth $763,000 after buying an additional 51 shares during the period. Perkins Coie Trust Co increased its position in shares of Medtronic PLC by 0.9% in the second quarter. Perkins Coie Trust Co now owns 24,758 shares of the medical technology company’s stock worth $2,149,000 after buying an additional 210 shares during the period. American National Bank increased its position in shares of Medtronic PLC by 4.4% in the second quarter. American National Bank now owns 60,455 shares of the medical technology company’s stock worth $5,246,000 after buying an additional 2,545 shares during the period. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of Medtronic PLC by 1.0% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,300,067 shares of the medical technology company’s stock worth $112,807,000 after buying an additional 12,703 shares during the period. 80.95% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

Shares of Medtronic PLC (NYSE:MDT) traded down 2.03% on Monday, reaching $73.99. The company had a trading volume of 7,525,125 shares. The company has a 50 day moving average price of $81.50 and a 200 day moving average price of $84.68. The stock has a market capitalization of $102.25 billion, a PE ratio of 28.79 and a beta of 1.01. Medtronic PLC has a 52-week low of $71.03 and a 52-week high of $89.27.

Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company earned $7.35 billion during the quarter, compared to analysts’ expectations of $7.46 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that Medtronic PLC will post $4.63 earnings per share for the current year.

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Several equities analysts recently weighed in on the company. Cowen and Company set a $94.00 price objective on Medtronic PLC and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Citigroup Inc. assumed coverage on Medtronic PLC in a research note on Tuesday, August 23rd. They issued a “buy” rating and a $102.00 price objective for the company. Zacks Investment Research raised Medtronic PLC from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research note on Tuesday, August 9th. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of Medtronic PLC in a research note on Thursday, August 25th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $93.00 price objective 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 assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $88.19.

In other news, Director James T. Lenehan purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The stock was bought at an average cost of $73.27 per share, for a total transaction of $146,540.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Kuntz sold 25,199 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 149,425 shares of the company’s stock, valued at $12,950,664.75. The disclosure for this sale can be found here. Company 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.

5 Day Chart for NYSE:MDT

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