Cape Cod Five Cents Savings Bank reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 27.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,673 shares of the medical technology company’s stock after selling 1,012 shares during the quarter. Cape Cod Five Cents Savings Bank’s holdings in Medtronic were worth $243,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Cordasco Financial Network bought a new stake in shares of Medtronic during the first quarter worth $27,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of Medtronic by 158.0% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock worth $34,000 after purchasing an additional 226 shares during the last quarter. Spectrum Management Group Inc. grew its holdings in shares of Medtronic by 353.8% during the first quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 322 shares during the last quarter. Mackey Komara & Dankovich LLC bought a new stake in shares of Medtronic during the first quarter worth $38,000. Finally, Capital Financial Planning LLC bought a new stake in shares of Medtronic during the fourth quarter worth $42,000. Hedge funds and other institutional investors own 80.10% of the company’s stock.

Medtronic stock opened at $97.53 on Thursday. The stock has a market capitalization of $130.84 billion, a P/E ratio of 18.68, a PEG ratio of 2.51 and a beta of 0.68. Medtronic PLC has a 12-month low of $81.66 and a 12-month high of $100.15. The company has a current ratio of 2.59, a quick ratio of 2.15 and a debt-to-equity ratio of 0.49.

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

In related news, Director Richard H. Anderson bought 10,900 shares of Medtronic stock in a transaction on Friday, May 24th. The shares were purchased at an average price of $92.40 per share, for a total transaction of $1,007,160.00. Following the completion of the acquisition, the director now owns 89,912 shares in the company, valued at $8,307,868.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Geoffrey Martha sold 11,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $96.05, for a total value of $1,056,550.00. The disclosure for this sale can be found here. 0.28% of the stock is owned by company insiders.

MDT has been the topic of several research analyst reports. Zacks Investment Research cut Medtronic from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. Wells Fargo & Co decreased their target price on Medtronic from $101.00 to $100.00 and set a “market perform” rating on the stock in a report on Thursday, April 4th. Oppenheimer set a $104.00 target price on Medtronic and gave the stock a “buy” rating in a report on Wednesday, February 20th. Northland Securities restated a “hold” rating and set a $84.00 target price on shares of Medtronic in a report on Monday, March 18th. Finally, Citigroup increased their target price on Medtronic from $95.00 to $101.00 and gave the stock a “neutral” rating in a report on Monday, February 25th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $103.95.

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Medtronic 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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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