Intact Investment Management Inc. increased its position in shares of Medtronic PLC (NYSE:MDT) by 57.1% during the 1st quarter, Holdings Channel reports. The fund owned 66,600 shares of the medical technology company’s stock after buying an additional 24,200 shares during the quarter. Intact Investment Management Inc.’s holdings in Medtronic were worth $6,067,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MDT. Oregon Public Employees Retirement Fund raised its holdings in Medtronic by 8,884.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,286,072 shares of the medical technology company’s stock worth $146,000 after buying an additional 13,138,192 shares during the period. Norges Bank acquired a new stake in Medtronic during the 4th quarter worth approximately $1,120,279,000. BlackRock Inc. raised its holdings in Medtronic by 7.9% during the 1st quarter. BlackRock Inc. now owns 106,778,084 shares of the medical technology company’s stock worth $9,725,349,000 after buying an additional 7,856,946 shares during the period. American Century Companies Inc. raised its holdings in Medtronic by 23.0% during the 4th quarter. American Century Companies Inc. now owns 9,746,733 shares of the medical technology company’s stock worth $886,563,000 after buying an additional 1,821,093 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Medtronic by 10.2% during the 4th quarter. Geode Capital Management LLC now owns 16,690,207 shares of the medical technology company’s stock worth $1,515,557,000 after buying an additional 1,538,130 shares during the period. 80.10% of the stock is currently owned by institutional investors and hedge funds.

MDT has been the topic of several research analyst reports. Oppenheimer set a $104.00 target price on shares of Medtronic and gave the stock a “buy” rating in a report on Wednesday, February 20th. Wells Fargo & Co lowered 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. Citigroup lifted 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. Barclays reiterated a “buy” rating and issued a $104.00 price objective on shares of Medtronic in a report on Wednesday, February 20th. Finally, Northland Securities reiterated a “hold” rating and issued a $84.00 price objective on shares of Medtronic in a report on Monday, March 18th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $103.95.

In other news, EVP Geoffrey Martha sold 11,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $96.05, for a total value of $1,056,550.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Hoedt Rob Ten sold 9,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $91.88, for a total transaction of $826,920.00. Following the completion of the sale, the executive vice president now directly owns 58,785 shares of the company’s stock, valued at approximately $5,401,165.80. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

MDT stock traded down $0.19 during midday trading on Wednesday, reaching $97.37. 25,025 shares of the company were exchanged, compared to its average volume of 5,918,483. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.59 and a quick ratio of 2.15. Medtronic PLC has a one year low of $81.66 and a one year high of $100.15. The stock has a market cap of $130.24 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 2.50 and a beta of 0.68.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.54 EPS for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.07. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.12 billion. During the same period in the previous year, the business posted $1.42 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. Research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

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Medtronic Company Profile

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.

Further Reading: Overbought

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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