Davidson Investment Advisors Has $33.81 Million Stake in Medtronic plc (NYSE:MDT)

Davidson Investment Advisors cut its stake in Medtronic plc (NYSE:MDT) by 0.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,715 shares of the medical technology company’s stock after selling 676 shares during the period. Medtronic makes up approximately 2.1% of Davidson Investment Advisors’ investment portfolio, making the stock its 8th biggest position. Davidson Investment Advisors’ holdings in Medtronic were worth $33,805,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MDT. Illinois Municipal Retirement Fund lifted its stake in Medtronic by 307.2% during the second quarter. Illinois Municipal Retirement Fund now owns 119,389 shares of the medical technology company’s stock valued at $10,518,000 after purchasing an additional 90,068 shares during the last quarter. Toronto Dominion Bank lifted its stake in Medtronic by 109.0% during the first quarter. Toronto Dominion Bank now owns 802,643 shares of the medical technology company’s stock valued at $64,674,000 after purchasing an additional 418,648 shares during the last quarter. Trust Co. of Toledo NA OH lifted its stake in Medtronic by 20.6% during the second quarter. Trust Co. of Toledo NA OH now owns 17,220 shares of the medical technology company’s stock valued at $1,517,000 after purchasing an additional 2,940 shares during the last quarter. Viawealth LLC lifted its stake in Medtronic by 3.3% during the first quarter. Viawealth LLC now owns 12,085 shares of the medical technology company’s stock valued at $974,000 after purchasing an additional 390 shares during the last quarter. Finally, Argent Trust Co lifted its stake in Medtronic by 5.0% during the first quarter. Argent Trust Co now owns 40,743 shares of the medical technology company’s stock valued at $3,285,000 after purchasing an additional 1,948 shares during the last quarter. 80.75% of the stock is currently owned by institutional investors.

Insider Transactions at Medtronic

In other news, EVP Gregory L. Smith sold 10,000 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $83.84, for a total transaction of $838,400.00. Following the transaction, the executive vice president now owns 46,723 shares in the company, valued at approximately $3,917,256.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.30% of the stock is currently owned by company insiders.

Medtronic Stock Up 0.7 %

MDT stock traded up $0.52 during midday trading on Monday, reaching $75.28. The company had a trading volume of 4,076,439 shares, compared to its average volume of 5,992,691. The company has a 50 day moving average of $75.20 and a two-hundred day moving average of $81.95. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $92.02. The company has a market capitalization of $100.16 billion, a P/E ratio of 27.75, a PEG ratio of 2.63 and a beta of 0.71. The company has a current ratio of 2.42, a quick ratio of 1.79 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.11 by $0.09. Medtronic had a net margin of 11.47% and a return on equity of 13.81%. The company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.57 billion. During the same quarter in the prior year, the business posted $1.13 EPS. Medtronic’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities research analysts expect that Medtronic plc will post 5.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MDT has been the subject of several recent research reports. UBS Group increased their target price on shares of Medtronic from $79.00 to $82.00 and gave the company a “sell” rating in a research note on Wednesday, August 23rd. Oppenheimer restated a “market perform” rating and issued a $89.00 price target on shares of Medtronic in a research report on Wednesday, August 23rd. StockNews.com started coverage on shares of Medtronic in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $89.00 price target on shares of Medtronic in a research report on Wednesday, August 23rd. Finally, Stifel Nicolaus upped their price target on shares of Medtronic from $92.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $91.94.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.