Lee Danner & Bass Inc. Grows Holdings in Medtronic PLC (MDT)

Lee Danner & Bass Inc. raised its stake in Medtronic PLC (NYSE:MDT) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 58,368 shares of the medical technology company’s stock after buying an additional 2,397 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Medtronic were worth $4,539,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its stake in Medtronic by 22.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after buying an additional 210 shares during the period. BDO Wealth Advisors LLC bought a new stake in Medtronic in the second quarter worth approximately $103,000. Motco grew its position in Medtronic by 8.7% in the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after acquiring an additional 99 shares in the last quarter. Quadrant Capital Group LLC grew its position in Medtronic by 21.5% in the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after acquiring an additional 290 shares in the last quarter. Finally, Israel Discount Bank of New York bought a new stake in Medtronic in the first quarter worth approximately $117,000. Hedge funds and other institutional investors own 81.85% of the company’s stock.

MDT has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $94.00 target price on shares of Medtronic in a research report on Thursday, November 9th. BidaskClub downgraded shares of Medtronic from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Zacks Investment Research downgraded shares of Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. SunTrust Banks set a $92.00 target price on shares of Medtronic and gave the stock a “buy” rating in a research report on Sunday, November 19th. Finally, Royal Bank Of Canada decreased their target price on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $88.02.

In related news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the transaction, the chief executive officer now owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 172,407 shares of company stock valued at $13,974,223. 0.31% of the stock is owned by insiders.

Shares of Medtronic PLC (NYSE:MDT) opened at $81.07 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. The stock has a market cap of $109,051.33, a price-to-earnings ratio of 17.36, a P/E/G ratio of 2.22 and a beta of 1.00. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. Medtronic’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 EPS. analysts anticipate that Medtronic PLC will post 4.77 earnings per share for the current year.

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About Medtronic

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.

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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