Medtronic PLC (MDT) Shares Bought by Regentatlantic Capital LLC

Regentatlantic Capital LLC boosted its position in Medtronic PLC (NYSE:MDT) by 37.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 37,624 shares of the medical technology company’s stock after acquiring an additional 10,253 shares during the quarter. Regentatlantic Capital LLC’s holdings in Medtronic were worth $3,427,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc increased its holdings in Medtronic by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 109,447,687 shares of the medical technology company’s stock worth $10,766,369,000 after purchasing an additional 1,199,118 shares in the last quarter. BlackRock Inc. increased its holdings in Medtronic by 1.5% during the 4th quarter. BlackRock Inc. now owns 98,921,138 shares of the medical technology company’s stock worth $8,997,868,000 after purchasing an additional 1,487,997 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Medtronic by 1.3% during the 4th quarter. Bank of New York Mellon Corp now owns 17,225,948 shares of the medical technology company’s stock worth $1,566,873,000 after purchasing an additional 213,593 shares in the last quarter. Geode Capital Management LLC increased 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 purchasing an additional 1,538,130 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Medtronic by 4.3% during the 4th quarter. Northern Trust Corp now owns 16,526,215 shares of the medical technology company’s stock worth $1,503,225,000 after purchasing an additional 688,537 shares in the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

MDT stock opened at $87.73 on Friday. The company has a market capitalization 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 debt-to-equity ratio of 0.47, a current ratio of 2.36 and a quick ratio of 1.92. Medtronic PLC has a 12-month low of $81.66 and a 12-month high of $100.15.

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

A number of analysts have commented on MDT shares. Oppenheimer set a $104.00 price objective on Medtronic and gave the stock a “buy” rating in a report on Wednesday, February 20th. Wells Fargo & Co decreased their price objective on Medtronic from $101.00 to $100.00 and set a “market perform” rating for the company in a report on Thursday, April 4th. Citigroup boosted their price objective on Medtronic from $95.00 to $101.00 and gave the stock a “neutral” rating in a report on Monday, February 25th. Barclays reissued a “buy” rating and set a $104.00 price objective on shares of Medtronic in a report on Wednesday, February 20th. Finally, Northland Securities reissued a “hold” rating and set a $84.00 price objective on shares of Medtronic in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $103.39.

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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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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