Smith Moore & CO. trimmed its holdings in shares of Medtronic PLC (NYSE:MDT) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,072 shares of the medical technology company’s stock after selling 601 shares during the period. Smith Moore & CO.’s holdings in Medtronic were worth $916,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. BlackRock Inc. grew its stake in Medtronic by 0.4% during the second quarter. BlackRock Inc. now owns 107,191,111 shares of the medical technology company’s stock worth $10,439,341,000 after purchasing an additional 413,027 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in Medtronic by 49.0% during the third quarter. First Citizens Bank & Trust Co. now owns 4,388 shares of the medical technology company’s stock worth $477,000 after acquiring an additional 1,443 shares during the period. Brookstone Capital Management lifted its holdings in Medtronic by 31.1% during the third quarter. Brookstone Capital Management now owns 3,117 shares of the medical technology company’s stock worth $339,000 after acquiring an additional 740 shares during the period. Tuttle Tactical Management bought a new stake in Medtronic during the third quarter worth $1,200,000. Finally, DORCHESTER WEALTH MANAGEMENT Co bought a new stake in Medtronic during the third quarter worth $222,000. 81.17% of the stock is currently owned by institutional investors.
In other Medtronic news, EVP Robert John White sold 52,166 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $110.62, for a total transaction of $5,770,602.92. Following the transaction, the executive vice president now owns 77,510 shares in the company, valued at approximately $8,574,156.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard H. Anderson bought 5,000 shares of Medtronic stock in a transaction on Friday, December 6th. The shares were purchased at an average price of $111.13 per share, for a total transaction of $555,650.00. The disclosure for this purchase can be found here. Corporate insiders own 0.28% of the company’s stock.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.06. The business had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.80 billion. Medtronic had a return on equity of 14.52% and a net margin of 15.11%. Medtronic’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.29 EPS. Sell-side analysts forecast that Medtronic PLC will post 5.6 EPS for the current year.
A number of brokerages recently commented on MDT. Argus lifted their price target on Medtronic to $135.00 and gave the stock a “buy” rating in a report on Monday, November 25th. JPMorgan Chase & Co. lifted their price target on Medtronic from $122.00 to $128.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Piper Sandler lifted their price target on Medtronic from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Citigroup lowered Medtronic from a “buy” rating to a “neutral” rating in a report on Thursday, January 2nd. Finally, SunTrust Banks began coverage on Medtronic in a report on Tuesday, January 7th. They set a “buy” rating and a $130.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $120.96.
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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