Lcnb Corp Purchases 643 Shares of Medtronic PLC (MDT)

Lcnb Corp increased its position in Medtronic PLC (NYSE:MDT) by 15.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,803 shares of the medical technology company’s stock after acquiring an additional 643 shares during the quarter. Lcnb Corp’s holdings in Medtronic were worth $437,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund boosted its stake in Medtronic by 8,884.4% in 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 purchasing an additional 13,138,192 shares during the period. Norges Bank bought a new position in Medtronic in the 4th quarter worth about $1,120,279,000. American Century Companies Inc. boosted its stake in Medtronic by 23.0% in 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 purchasing an additional 1,821,093 shares during the period. Geode Capital Management LLC boosted its stake in Medtronic by 10.2% in 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 purchasing an additional 1,538,130 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its stake in Medtronic by 242.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,150,823 shares of the medical technology company’s stock worth $195,639,000 after purchasing an additional 1,523,109 shares during the period. 81.52% of the stock is owned by institutional investors.

Several brokerages have commented on MDT. Citigroup raised their target price on Medtronic from $95.00 to $101.00 and gave the stock a “neutral” rating in a research note on Monday, February 25th. Barclays restated a “buy” rating and issued a $104.00 target price on shares of Medtronic in a research note on Wednesday, February 20th. Northland Securities restated a “hold” rating and issued a $84.00 target price on shares of Medtronic in a research note on Monday, March 18th. Oppenheimer set a $104.00 target price on Medtronic and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Finally, Needham & Company LLC restated a “strong-buy” rating and issued a $117.00 target price (down previously from $120.00) on shares of Medtronic in a research note on Monday, February 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $103.39.

Shares of MDT opened at $87.73 on Friday. The stock has a market cap of $118.17 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 2.19 and a beta of 0.78. The company has a quick ratio of 1.92, a current ratio of 2.36 and a debt-to-equity ratio of 0.47. Medtronic PLC has a 12-month low of $81.66 and a 12-month high of $100.15.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.05. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.53 billion. Medtronic had a return on equity of 13.85% and a net margin of 16.10%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $1.17 EPS. On average, equities analysts forecast that Medtronic PLC will post 5.15 earnings per share for the current 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: Portfolio Manager

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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