Alley Co LLC Has $5.42 Million Position in Medtronic PLC (MDT)
Alley Co LLC increased its holdings in Medtronic PLC (NYSE:MDT) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,540 shares of the medical technology company’s stock after purchasing an additional 1,169 shares during the quarter. Medtronic makes up 1.6% of Alley Co LLC’s investment portfolio, making the stock its 27th biggest holding. Alley Co LLC’s holdings in Medtronic were worth $5,423,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the stock. Tributary Capital Management LLC bought a new stake in Medtronic during the fourth quarter valued at $27,000. Cordasco Financial Network bought a new stake in Medtronic during the first quarter valued at $27,000. Pin Oak Investment Advisors Inc. boosted its position in Medtronic by 158.0% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock valued at $34,000 after acquiring an additional 226 shares during the last quarter. Spectrum Management Group Inc. boosted its position in Medtronic by 353.8% during the first quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 322 shares during the last quarter. Finally, Mackey Komara & Dankovich LLC acquired a new position in shares of Medtronic during the first quarter valued at about $38,000. 81.52% of the stock is currently owned by institutional investors.
MDT opened at $87.57 on Tuesday. The company has a current ratio of 2.36, a quick ratio of 1.92 and a debt-to-equity ratio of 0.47. Medtronic PLC has a fifty-two week low of $81.66 and a fifty-two week high of $100.15. The stock has a market capitalization of $117.66 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 2.18 and a beta of 0.78.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a report on Monday. Wells Fargo & Co dropped their price objective on shares of Medtronic from $101.00 to $100.00 and set a “market perform” rating on the stock in a report on Thursday, April 4th. Northland Securities reiterated a “hold” rating and set a $84.00 price objective on shares of Medtronic in a report on Monday, March 18th. Citigroup upped their price objective on shares of Medtronic from $95.00 to $101.00 and gave the company a “neutral” rating in a report on Monday, February 25th. Finally, Barclays reiterated a “buy” rating and set a $104.00 price objective on shares of Medtronic in a report on Wednesday, February 20th. Ten equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Medtronic presently has an average rating of “Buy” and a consensus target price of $103.39.
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Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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