Verition Fund Management LLC Has $3.58 Million Position in Medtronic PLC (MDT)
Verition Fund Management LLC increased its stake in shares of Medtronic PLC (NYSE:MDT) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,582 shares of the medical technology company’s stock after buying an additional 1,579 shares during the quarter. Verition Fund Management LLC’s holdings in Medtronic were worth $3,576,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Stanley Laman Group Ltd. lifted its position in shares of Medtronic by 7.3% during the 1st quarter. Stanley Laman Group Ltd. now owns 9,740 shares of the medical technology company’s stock worth $781,000 after buying an additional 663 shares during the period. Patten Group Inc. raised its position in Medtronic by 2.6% in the 1st quarter. Patten Group Inc. now owns 26,180 shares of the medical technology company’s stock valued at $2,100,000 after purchasing an additional 664 shares during the last quarter. Brighton Jones LLC raised its position in Medtronic by 21.9% in the 4th quarter. Brighton Jones LLC now owns 3,762 shares of the medical technology company’s stock valued at $304,000 after purchasing an additional 676 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Medtronic by 3.9% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 18,417 shares of the medical technology company’s stock valued at $1,478,000 after purchasing an additional 684 shares during the last quarter. Finally, Walter & Keenan Financial Consulting Co. MI ADV raised its position in Medtronic by 3.2% in the 1st quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 22,923 shares of the medical technology company’s stock valued at $1,839,000 after purchasing an additional 701 shares during the last quarter. Institutional investors and hedge funds own 80.34% of the company’s stock.
Medtronic opened at $86.37 on Thursday, according to MarketBeat Ratings. The firm has a market capitalization of $117.36 billion, a PE ratio of 18.11, a PEG ratio of 2.37 and a beta of 0.94. Medtronic PLC has a 52 week low of $76.41 and a 52 week high of $89.72. The company has a quick ratio of 1.92, a current ratio of 2.28 and a debt-to-equity ratio of 0.47.
In related news, SVP Richard Kuntz sold 11,500 shares of Medtronic stock in a transaction on Friday, June 8th. The stock was sold at an average price of $87.13, for a total transaction of $1,001,995.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bradley E. Lerman sold 8,910 shares of Medtronic stock in a transaction on Monday, June 11th. The stock was sold at an average price of $86.82, for a total value of $773,566.20. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.
Several equities analysts have issued reports on the company. Oppenheimer reiterated a “buy” rating and issued a $96.00 price objective on shares of Medtronic in a research report on Thursday, May 24th. TheStreet downgraded Medtronic from a “b” rating to a “c+” rating in a research report on Tuesday, February 20th. SunTrust Banks lifted their price objective on Medtronic to $96.00 and gave the company a “buy” rating in a research report on Monday, May 21st. William Blair assumed coverage on Medtronic in a research report on Wednesday, June 6th. They issued a “market perform” rating for the company. Finally, Morgan Stanley cut their price objective on Medtronic from $95.00 to $90.00 and set an “equal weight” rating for the company in a research report on Thursday, March 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $92.82.
Medtronic plc manufactures and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. The company's Cardiac and Vascular Group segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; diagnostics and monitoring devices; mechanical circulatory support, TYRX, and AF products; and remote monitoring and patient-centered software.
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