Alley Co LLC Raises Holdings in Medtronic PLC (MDT)
Alley Co LLC boosted its position in shares of Medtronic PLC (NYSE:MDT) by 2.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 54,104 shares of the medical technology company’s stock after acquiring an additional 1,381 shares during the quarter. Medtronic comprises about 1.5% of Alley Co LLC’s portfolio, making the stock its 28th largest position. Alley Co LLC’s holdings in Medtronic were worth $4,208,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Medtronic by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after acquiring an additional 2,454,380 shares during the period. BlackRock Inc. raised 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 valued at $7,944,210,000 after buying an additional 2,476,853 shares during the last quarter. Massachusetts Financial Services Co. MA raised 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 valued at $4,724,526,000 after buying an additional 1,729,715 shares during the last quarter. Lazard Asset Management LLC raised 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 valued at $1,745,699,000 after buying an additional 5,991,094 shares during the last quarter. Finally, Geode Capital Management LLC raised 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 valued at $1,070,622,000 after buying an additional 906,581 shares during the last quarter. 81.85% of the stock is owned by institutional investors.
Medtronic PLC (NYSE:MDT) opened at $81.07 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72. The firm has a market capitalization of $109,051.33, a PE ratio of 17.36, a P/E/G ratio of 2.22 and a beta of 1.00.
In related news, CEO Omar Ishrak sold 140,407 shares of Medtronic stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $81.63, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $79.02, for a total value of $1,264,320.00. The disclosure for this sale can be found here. In 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.
MDT has been the subject of a number of recent research reports. BidaskClub upgraded Medtronic from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Royal Bank Of Canada reiterated a “buy” rating and set a $90.00 price objective on shares of Medtronic in a research note on Monday, August 21st. Oppenheimer reiterated a “buy” rating and set a $92.00 price objective on shares of Medtronic in a research note on Tuesday, August 22nd. Cowen set a $95.00 price objective on Medtronic and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $92.00 price objective (down previously from $94.00) on shares of Medtronic in a research note on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the stock. Medtronic has a consensus rating of “Hold” and a consensus 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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