Colonial Trust Advisors Purchases 8,799 Shares of Medtronic PLC (MDT)
Colonial Trust Advisors boosted its position in Medtronic PLC (NYSE:MDT) by 43.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,078 shares of the medical technology company’s stock after buying an additional 8,799 shares during the period. Colonial Trust Advisors’ holdings in Medtronic PLC were worth $2,581,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. JT Stratford LLC purchased a new stake in Medtronic PLC in the second quarter valued at approximately $223,000. San Francisco Sentry Investment Group CA purchased a new stake in Medtronic PLC in the second quarter valued at approximately $181,000. Macquarie Group Ltd. boosted its position in Medtronic PLC by 5.2% in the second quarter. Macquarie Group Ltd. now owns 411,152 shares of the medical technology company’s stock valued at $36,490,000 after buying an additional 20,460 shares during the last quarter. Fred Alger Management Inc. boosted its position in Medtronic PLC by 48.7% in the second quarter. Fred Alger Management Inc. now owns 1,626,100 shares of the medical technology company’s stock valued at $144,316,000 after buying an additional 532,863 shares during the last quarter. Finally, Logan Capital Management Inc. boosted its position in Medtronic PLC by 12.5% in the 2nd quarter. Logan Capital Management Inc. now owns 2,804 shares of the medical technology company’s stock worth $249,000 after purchasing an additional 311 shares in the last quarter. Hedge funds and other institutional investors own 81.14% of the company’s stock.
In other Medtronic PLC news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $78.03, for a total value of $1,248,480.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the completion of the sale, the chief executive officer now owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 172,407 shares of company stock valued at $13,974,223. 0.31% of the stock is owned by company insiders.
Medtronic PLC (NYSE:MDT) opened at $79.49 on Monday. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $107,676.43, a price-to-earnings ratio of 16.95, a P/E/G ratio of 2.16 and a beta of 1.00.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The firm had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same period in the prior year, the company earned $1.03 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. equities analysts predict that Medtronic PLC will post 4.7 earnings per share for the current year.
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Several research firms have commented on MDT. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $92.00 price objective on shares of Medtronic PLC in a research report on Tuesday, August 22nd. Jefferies Group LLC restated a “buy” rating and issued a $103.00 price objective on shares of Medtronic PLC in a research report on Thursday, August 3rd. BMO Capital Markets restated an “outperform” rating and issued a $89.00 price objective (down previously from $92.00) on shares of Medtronic PLC in a research report on Tuesday, October 10th. SunTrust Banks, Inc. restated a “buy” rating and issued a $96.00 price objective on shares of Medtronic PLC in a research report on Friday, November 3rd. Finally, BidaskClub lowered Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $87.88.
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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