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.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.05. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. Equities analysts forecast that Medtronic PLC will post 5.15 EPS for the current fiscal year.

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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About Medtronic

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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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