Medtronic PLC (MDT) Shares Bought by CIBC World Markets Inc.

CIBC World Markets Inc. grew its stake in Medtronic PLC (NYSE:MDT) by 2.9% during the 3rd quarter, Holdings Channel reports. The firm owned 129,966 shares of the medical technology company’s stock after buying an additional 3,647 shares during the period. CIBC World Markets Inc.’s holdings in Medtronic were worth $12,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ballew Advisors Inc acquired a new stake in Medtronic in the 2nd quarter worth $100,000. Fort L.P. acquired a new stake in shares of Medtronic during the 2nd quarter valued at about $121,000. Polaris Greystone Financial Group LLC boosted its position in shares of Medtronic by 255.1% during the 3rd quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock valued at $130,000 after acquiring an additional 949 shares in the last quarter. Trustcore Financial Services LLC boosted its position in shares of Medtronic by 97.3% during the 2nd quarter. Trustcore Financial Services LLC now owns 1,760 shares of the medical technology company’s stock valued at $151,000 after acquiring an additional 868 shares in the last quarter. Finally, Hartford Financial Management Inc. acquired a new stake in shares of Medtronic during the 2nd quarter valued at about $164,000. Institutional investors own 79.56% of the company’s stock.

In other Medtronic news, EVP Hooman Hakami sold 26,159 shares of the business’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $96.29, for a total value of $2,518,850.11. Following the transaction, the executive vice president now directly owns 63,046 shares in the company, valued at $6,070,699.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Geoffrey Martha sold 49,799 shares of the business’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $97.93, for a total transaction of $4,876,816.07. Following the completion of the transaction, the executive vice president now owns 87,872 shares in the company, valued at $8,605,304.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 123,134 shares of company stock worth $11,918,901. Company insiders own 0.28% of the company’s stock.

MDT has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Medtronic from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Tuesday, October 23rd. ValuEngine upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Oppenheimer reiterated a “buy” rating and set a $104.00 target price on shares of Medtronic in a research report on Tuesday. Raymond James decreased their target price on shares of Medtronic from $105.00 to $104.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Citigroup lifted their target price on shares of Medtronic from $104.00 to $109.00 and gave the company a “buy” rating in a research report on Friday, August 24th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $104.47.

NYSE:MDT opened at $92.01 on Friday. The stock has a market capitalization of $125.56 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 2.46 and a beta of 0.94. Medtronic PLC has a 12 month low of $76.41 and a 12 month high of $100.15. The company has a current ratio of 2.56, a quick ratio of 2.06 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 20th. The medical technology company reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.07. The firm had revenue of $7.48 billion for the quarter, compared to analyst estimates of $7.35 billion. Medtronic had a net margin of 7.44% and a return on equity of 13.51%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 earnings per share. Research analysts predict that Medtronic PLC will post 5.13 earnings per share for the current fiscal 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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