Medtronic PLC (MDT) Stake Increased by Blackhawk Capital Partners LLC.

Blackhawk Capital Partners LLC. grew its stake in shares of Medtronic PLC (NYSE:MDT) by 19.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,451 shares of the medical technology company’s stock after acquiring an additional 3,824 shares during the quarter. Medtronic comprises about 3.3% of Blackhawk Capital Partners LLC.’s investment portfolio, making the stock its 5th biggest holding. Blackhawk Capital Partners LLC.’s holdings in Medtronic were worth $2,307,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. lifted its stake in shares of Medtronic by 11.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 823,622 shares of the medical technology company’s stock worth $70,510,000 after purchasing an additional 82,423 shares during the period. Alley Co LLC lifted its stake in shares of Medtronic by 2.9% in the 3rd quarter. Alley Co LLC now owns 56,902 shares of the medical technology company’s stock worth $5,597,000 after purchasing an additional 1,627 shares during the period. Pinnacle Financial Partners Inc. lifted its stake in shares of Medtronic by 2.6% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 57,766 shares of the medical technology company’s stock worth $5,682,000 after purchasing an additional 1,458 shares during the period. WINTON GROUP Ltd lifted its stake in shares of Medtronic by 60.2% in the 2nd quarter. WINTON GROUP Ltd now owns 99,746 shares of the medical technology company’s stock worth $8,539,000 after purchasing an additional 37,482 shares during the period. Finally, Royal London Asset Management Ltd. bought a new position in shares of Medtronic in the 2nd quarter worth approximately $49,276,000. 79.56% of the stock is currently owned by hedge funds and other institutional investors.

NYSE MDT opened at $92.01 on Monday. Medtronic PLC has a 12 month low of $76.41 and a 12 month high of $100.15. The company has a market cap of $124.26 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 2.44 and a beta of 0.94. 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 earnings results on Tuesday, November 20th. The medical technology company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.07. Medtronic had a net margin of 7.44% and a return on equity of 13.51%. The company had revenue of $7.48 billion for the quarter, compared to analysts’ expectations of $7.35 billion. During the same quarter last year, the business earned $1.07 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts expect that Medtronic PLC will post 5.13 earnings per share for the current year.

In other Medtronic news, EVP Hooman Hakami sold 26,159 shares of the stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $96.29, for a total transaction of $2,518,850.11. Following the completion of the sale, the executive vice president now directly owns 63,046 shares of the company’s stock, valued at approximately $6,070,699.34. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Geoffrey Martha sold 49,799 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 87,872 shares of the company’s stock, valued at $8,605,304.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,134 shares of company stock worth $11,918,901. 0.28% of the stock is owned by company insiders.

Several brokerages have recently weighed in on MDT. Raymond James lowered their price objective on shares of Medtronic from $105.00 to $104.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 21st. Oppenheimer reiterated a “buy” rating and issued a $104.00 price objective on shares of Medtronic in a research note on Tuesday, November 20th. Zacks Investment Research cut shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. Barclays began coverage on shares of Medtronic in a research note on Monday, October 15th. They issued an “overweight” rating and a $113.00 price objective on the stock. Finally, Argus increased their price objective on shares of Medtronic from $108.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Medtronic currently has an average rating of “Buy” and an average target price of $104.47.

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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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