Cue Financial Group Inc. Holds Position in Medtronic PLC (MDT)

Cue Financial Group Inc. continued to hold its stake in shares of Medtronic PLC (NYSE:MDT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,201 shares of the medical technology company’s stock at the end of the first quarter. Cue Financial Group Inc.’s holdings in Medtronic PLC were worth $419,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Harfst & Associates Inc. raised its stake in shares of Medtronic PLC by 45.2% in the fourth quarter. Harfst & Associates Inc. now owns 4,237 shares of the medical technology company’s stock valued at $301,000 after buying an additional 1,318 shares during the period. Fort Pitt Capital Group LLC raised its stake in shares of Medtronic PLC by 14.1% in the fourth quarter. Fort Pitt Capital Group LLC now owns 371,580 shares of the medical technology company’s stock valued at $26,468,000 after buying an additional 45,965 shares during the period. Wesbanco Bank Inc. raised its stake in shares of Medtronic PLC by 4.3% in the fourth quarter. Wesbanco Bank Inc. now owns 11,137 shares of the medical technology company’s stock valued at $793,000 after buying an additional 460 shares during the period. Johnson Financial Group Inc. raised its stake in shares of Medtronic PLC by 28.6% in the fourth quarter. Johnson Financial Group Inc. now owns 7,287 shares of the medical technology company’s stock valued at $519,000 after buying an additional 1,620 shares during the period. Finally, Alley Co LLC raised its stake in shares of Medtronic PLC by 0.4% in the fourth quarter. Alley Co LLC now owns 47,801 shares of the medical technology company’s stock valued at $3,405,000 after buying an additional 207 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

Medtronic PLC (NYSE:MDT) opened at 88.08 on Friday. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.27. The company’s 50 day moving average is $84.84 and its 200-day moving average is $79.22. The firm has a market cap of $120.58 billion, a P/E ratio of 30.48 and a beta of 1.04.

Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.02. The business had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.86 billion. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 earnings per share. On average, equities analysts predict that Medtronic PLC will post $4.95 EPS for the current fiscal year.

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Several brokerages recently issued reports on MDT. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price target (up from $91.00) on shares of Medtronic PLC in a report on Thursday, May 25th. CIBC reaffirmed a “buy” rating on shares of Medtronic PLC in a report on Friday, May 26th. Evercore ISI reaffirmed an “outperform” rating and set a $91.00 price target (up from $88.50) on shares of Medtronic PLC in a report on Sunday, May 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $91.00 price target (up from $84.00) on shares of Medtronic PLC in a report on Sunday, May 28th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $95.00 price target (up from $86.00) on shares of Medtronic PLC in a report on Sunday, May 28th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $88.88.

In related news, EVP Hoedt Rob Ten sold 50,757 shares of Medtronic PLC stock in a transaction on Monday, March 20th. The shares were sold at an average price of $81.58, for a total value of $4,140,756.06. Following the sale, the executive vice president now owns 59,392 shares in the company, valued at $4,845,199.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

About Medtronic PLC

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

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