New England Research & Management Inc. purchased a new stake in Medtronic PLC (NYSE:MDT) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 17,182 shares of the medical technology company’s stock, valued at approximately $1,336,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Medtronic by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock valued at $9,298,872,000 after buying an additional 2,454,380 shares during the period. BlackRock Inc. grew its stake in shares of Medtronic by 2.8% during the 2nd quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock worth $7,944,210,000 after purchasing an additional 2,476,853 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Medtronic by 3.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock worth $4,724,526,000 after purchasing an additional 1,729,715 shares during the period. Lazard Asset Management LLC grew its stake in shares of Medtronic by 43.8% during the 2nd quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after purchasing an additional 5,991,094 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Medtronic by 7.3% during the 1st quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock worth $1,070,622,000 after purchasing an additional 906,581 shares during the period. Hedge funds and other institutional investors own 81.85% of the company’s stock.

In related news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total value of $1,264,320.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the transaction, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. Insiders sold 172,407 shares of company stock worth $13,974,223 in the last 90 days. 0.31% of the stock is currently owned by insiders.

Shares of Medtronic PLC (NYSE:MDT) traded up $1.05 during mid-day trading on Wednesday, hitting $80.92. 5,392,200 shares of the stock traded hands, compared to its average volume of 4,959,266. The stock has a market cap of $108,103.88, a price-to-earnings ratio of 17.21, a P/E/G ratio of 2.20 and a beta of 1.00. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.12 EPS. equities analysts expect that Medtronic PLC will post 4.77 earnings per share for the current year.

A number of equities analysts have recently weighed in on the stock. Oppenheimer reaffirmed a “buy” rating and set a $92.00 price target on shares of Medtronic in a research note on Tuesday, August 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $89.00 price target (down from $92.00) on shares of Medtronic in a research note on Tuesday, October 10th. SunTrust Banks reaffirmed a “buy” rating and set a $96.00 price target on shares of Medtronic in a research note on Friday, November 3rd. Stifel Nicolaus upped their price target on shares of Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, November 22nd. Finally, Needham & Company LLC lowered their price objective on shares of Medtronic from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $88.02.

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Medtronic 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.

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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