Hardman Johnston Global Advisors LLC Sells 6,130 Shares of Medtronic PLC (MDT)

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.

Shares of NYSE:MDT opened at $87.73 on Friday. The company has a market capitalization of $117.66 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.18 and a beta of 0.78. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.92 and a current ratio of 2.36. Medtronic PLC has a 52-week low of $81.66 and a 52-week high of $100.15.

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.

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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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