KBC Group NV lessened its position in shares of Medtronic plc. (NYSE:MDT) by 20.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 639,814 shares of the medical technology company’s stock after selling 168,712 shares during the quarter. KBC Group NV’s holdings in Medtronic were worth $51,665,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the company. BDO Wealth Advisors LLC bought a new stake in shares of Medtronic during the second quarter worth $103,000. Motco increased its holdings in Medtronic by 8.7% in the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after purchasing an additional 99 shares during the last quarter. Quadrant Capital Group LLC increased its holdings 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 valued at $114,000 after purchasing an additional 290 shares during the last quarter. Blue Chip Partners Inc. bought a new stake in Medtronic in the third quarter valued at about $118,000. Finally, Westwood Holdings Group Inc. bought a new stake in Medtronic in the second quarter valued at about $151,000. 79.83% of the stock is currently owned by institutional investors.
In other news, VP Richard Kuntz sold 78,526 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the completion of the sale, the vice president now directly owns 149,761 shares in the company, valued at approximately $12,910,895.81. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $82.82, for a total value of $1,325,120.00. Following the completion of the sale, the executive vice president now owns 88,818 shares of the company’s stock, valued at $7,355,906.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 120,684 shares of company stock valued at $10,318,276. Corporate insiders own 0.31% of the company’s stock.
A number of research analysts have issued reports on MDT shares. SunTrust Banks reissued a “buy” rating and issued a $96.00 target price on shares of Medtronic in a research note on Friday, November 3rd. Bank of America raised Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Argus raised Medtronic from a “hold” rating to a “buy” rating and upped their price objective for the stock from $81.27 to $95.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. Oppenheimer reiterated a “buy” rating on shares of Medtronic in a report on Thursday, December 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $94.00 target price on shares of Medtronic in a report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. Medtronic has a consensus rating of “Buy” and an average target price of $90.45.
Medtronic plc. (NYSE MDT) traded down $1.58 during midday trading on Tuesday, hitting $81.73. The company had a trading volume of 5,231,796 shares, compared to its average volume of 5,526,997. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. Medtronic plc. has a 12 month low of $76.51 and a 12 month high of $89.72. The firm has a market cap of $112,760.00, a P/E ratio of 22.40, a price-to-earnings-growth ratio of 2.29 and a beta of 0.93.
Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.17. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The business had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same period last year, the company earned $1.12 EPS. Medtronic’s revenue for the quarter was up 1.2% compared to the same quarter last year. equities research analysts anticipate that Medtronic plc. will post 4.76 EPS for the current year.
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Medtronic Company Profile
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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