Cetera Advisors LLC Sells 241 Shares of Medtronic PLC (MDT)

Cetera Advisors LLC cut its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.6% in the 1st quarter, HoldingsChannel reports. The fund owned 8,911 shares of the medical technology company’s stock after selling 241 shares during the period. Cetera Advisors LLC’s holdings in Medtronic were worth $811,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Cordasco Financial Network bought a new stake in Medtronic in the 1st quarter worth about $27,000. Tributary Capital Management LLC bought a new stake in Medtronic in the 4th quarter worth about $27,000. Pin Oak Investment Advisors Inc. grew its position in Medtronic by 158.0% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock worth $34,000 after purchasing an additional 226 shares in the last quarter. Spectrum Management Group Inc. grew its position in Medtronic by 353.8% in the 1st quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 322 shares in the last quarter. Finally, Mackey Komara & Dankovich LLC bought a new stake in Medtronic in the 1st quarter worth about $38,000. 81.52% of the stock is owned by institutional investors.

A number of brokerages have issued reports on MDT. Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Monday. Wells Fargo & Co dropped their target price on shares of Medtronic from $101.00 to $100.00 and set a “market perform” rating on the stock in a research note on Thursday, April 4th. Northland Securities reiterated a “hold” rating and issued a $84.00 target price on shares of Medtronic in a research note on Monday, March 18th. Citigroup boosted their target price on shares of Medtronic from $95.00 to $101.00 and gave the company a “neutral” rating in a research note on Monday, February 25th. Finally, Barclays reiterated a “buy” rating and issued a $104.00 target price on shares of Medtronic in a research note on Wednesday, February 20th. Ten investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $103.39.

Shares of MDT stock opened at $87.57 on Tuesday. The company has a market cap of $117.66 billion, a P/E ratio of 18.36, a price-to-earnings-growth 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 12 month low of $81.66 and a 12 month high of $100.15.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 19th. The medical technology company reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.05. The company had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.53 billion. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. Medtronic’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.17 EPS. As a group, research analysts forecast that Medtronic PLC will post 5.15 EPS for the current year.

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About Medtronic

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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