Hardman Johnston Global Advisors LLC decreased its stake in Medtronic PLC (NYSE:MDT) by 2.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 289,647 shares of the medical technology company’s stock after selling 6,130 shares during the period. Medtronic makes up 1.2% of Hardman Johnston Global Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. Hardman Johnston Global Advisors LLC’s holdings in Medtronic were worth $26,381,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of MDT. Tributary Capital Management LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at about $27,000. Cordasco Financial Network bought a new stake in shares of Medtronic during the 1st quarter valued at about $27,000. Pin Oak Investment Advisors Inc. boosted its position in shares of Medtronic by 158.0% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock valued at $34,000 after purchasing an additional 226 shares in the last quarter. Spectrum Management Group Inc. boosted its position in shares of Medtronic by 353.8% during the 1st quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 322 shares in the last quarter. Finally, Mackey Komara & Dankovich LLC bought a new stake in shares of Medtronic during the 1st quarter valued at about $38,000. 81.52% of the stock is owned by institutional investors.
Several equities research analysts recently commented on MDT shares. Zacks Investment Research lowered Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Wells Fargo & Co cut their target price on Medtronic from $101.00 to $100.00 and set a “market perform” rating on the stock in a research report on Thursday, April 4th. Needham & Company LLC restated a “strong-buy” rating and set a $117.00 target price (down previously from $120.00) on shares of Medtronic in a research report on Monday, February 4th. Oppenheimer set a $104.00 target price on Medtronic and gave the company a “buy” rating in a research report on Wednesday, February 20th. Finally, Northland Securities restated a “hold” rating and set a $84.00 target price on shares of Medtronic in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $103.39.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.05. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.53 billion. Medtronic had a return on equity of 13.85% and a net margin of 16.10%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 earnings per share. Equities research analysts anticipate that Medtronic PLC will post 5.15 earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: “Hardman Johnston Global Advisors LLC Sells 6,130 Shares of Medtronic PLC (MDT)” was posted by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this article on another website, it was illegally copied and republished in violation of international trademark and copyright laws. The original version of this article can be read at https://www.baseballdailydigest.com/news/2019/05/19/hardman-johnston-global-advisors-llc-sells-6130-shares-of-medtronic-plc-mdt.html.
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.
Read More: What is the Ex-Dividend Date in Investing?
Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT).
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.