Medtronic PLC (MDT) Shares Sold by Calamos Wealth Management LLC
Calamos Wealth Management LLC lowered its stake in shares of Medtronic PLC (NYSE:MDT) by 9.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,557 shares of the medical technology company’s stock after selling 678 shares during the period. Calamos Wealth Management LLC’s holdings in Medtronic were worth $510,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Parkside Financial Bank & Trust grew its stake in Medtronic by 22.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after buying an additional 210 shares in the last quarter. BDO Wealth Advisors LLC purchased a new position in Medtronic in the 2nd quarter valued at approximately $103,000. Motco grew its stake in Medtronic by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after buying an additional 99 shares in the last quarter. Farmers National Bank purchased a new position in Medtronic in the 1st quarter valued at approximately $121,000. Finally, Israel Discount Bank of New York purchased a new position in Medtronic in the 1st quarter valued at approximately $117,000. Institutional investors own 81.85% of the company’s stock.
In other news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction on Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Omar Ishrak sold 140,407 shares of Medtronic stock in a transaction on Friday, September 15th. The stock was sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the sale, the chief executive officer now directly 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 three months, insiders sold 172,407 shares of company stock valued at $13,974,223. Insiders own 0.31% of the company’s stock.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same period last year, the firm earned $1.12 EPS. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. sell-side analysts forecast that Medtronic PLC will post 4.77 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on MDT shares. BidaskClub lowered shares of Medtronic from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Royal Bank Of Canada reduced their price objective on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, October 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $92.00 price objective (down from $94.00) on shares of Medtronic in a research note on Wednesday, August 23rd. Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, Barclays reduced their price objective on shares of Medtronic from $94.00 to $92.00 and set an “overweight” rating for the company in a research note on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company. Medtronic has an average rating of “Hold” and an average price target of $88.02.
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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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