Stephens Inc. AR Has $15.49 Million Position in Medtronic PLC (MDT)

Stephens Inc. AR lifted its position in Medtronic PLC (NYSE:MDT) by 12.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 170,082 shares of the medical technology company’s stock after purchasing an additional 18,643 shares during the quarter. Stephens Inc. AR’s holdings in Medtronic were worth $15,491,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in MDT. Oregon Public Employees Retirement Fund boosted its stake in Medtronic by 8,884.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,286,072 shares of the medical technology company’s stock worth $146,000 after buying an additional 13,138,192 shares during the period. Norges Bank purchased a new position in Medtronic during the fourth quarter worth about $1,120,279,000. American Century Companies Inc. boosted its stake in Medtronic by 23.0% during the fourth quarter. American Century Companies Inc. now owns 9,746,733 shares of the medical technology company’s stock worth $886,563,000 after buying an additional 1,821,093 shares during the period. Geode Capital Management LLC boosted its stake in Medtronic by 10.2% during the fourth quarter. Geode Capital Management LLC now owns 16,690,207 shares of the medical technology company’s stock worth $1,515,557,000 after buying an additional 1,538,130 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its stake in Medtronic by 242.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,150,823 shares of the medical technology company’s stock worth $195,639,000 after buying an additional 1,523,109 shares during the period. 81.52% of the stock is owned by hedge funds and other institutional investors.

NYSE:MDT traded up $0.09 during midday trading on Monday, reaching $87.82. The stock had a trading volume of 857,150 shares, compared to its average volume of 4,598,884. Medtronic PLC has a 12-month low of $81.66 and a 12-month high of $100.15. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.36 and a quick ratio of 1.92. The firm has a market cap of $117.66 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 2.18 and a beta of 0.78.

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

Several brokerages have weighed in on MDT. Zacks Investment Research lowered shares of Medtronic from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Wells Fargo & Co reduced their price target on shares of Medtronic from $101.00 to $100.00 and set a “market perform” rating on the stock in a research report on Thursday, April 4th. Northland Securities reissued a “hold” rating and set a $84.00 price target on shares of Medtronic in a research report on Monday, March 18th. Citigroup increased their price target on shares of Medtronic from $95.00 to $101.00 and gave the stock a “neutral” rating in a research report on Monday, February 25th. Finally, Barclays reissued a “buy” rating and set a $104.00 price target on shares of Medtronic in a research report on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus 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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