Prentiss Smith & Co. Inc. purchased a new position in shares of Medtronic plc. (NYSE:MDT) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 5,570 shares of the medical technology company’s stock, valued at approximately $450,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Janus Henderson Group PLC purchased a new position in Medtronic in the third quarter worth $579,952,000. Lazard Asset Management LLC raised its position in Medtronic by 43.8% in the second quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after acquiring an additional 5,991,094 shares in the last quarter. BlackRock Inc. raised its position in Medtronic by 6.4% in the fourth quarter. BlackRock Inc. now owns 94,595,580 shares of the medical technology company’s stock worth $7,638,592,000 after acquiring an additional 5,688,180 shares in the last quarter. Alliancebernstein L.P. raised its position in Medtronic by 135.5% in the second quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock worth $538,727,000 after acquiring an additional 3,493,058 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Medtronic by 2.4% in the second quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after acquiring an additional 2,454,380 shares in the last quarter. 79.83% of the stock is owned by hedge funds and other institutional investors.
Shares of Medtronic plc. (NYSE MDT) opened at $81.24 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.09 and a current ratio of 2.43. The company has a market capitalization of $111,700.62, a price-to-earnings ratio of 17.57, a P/E/G ratio of 2.34 and a beta of 0.93. Medtronic plc. has a 52 week low of $76.51 and a 52 week high of $89.72.
In related news, VP Richard Kuntz sold 78,526 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the sale, the vice president now owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Hooman Hakami sold 26,158 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $85.00, for a total value of $2,223,430.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,684 shares of company stock worth $10,318,276. Corporate insiders own 0.31% of the company’s stock.
MDT has been the subject of a number of research analyst reports. SunTrust Banks restated a “buy” rating and issued a $96.00 price target on shares of Medtronic in a research report on Friday, November 3rd. Bank of America upgraded Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Argus upgraded Medtronic from a “hold” rating to a “buy” rating and raised their price target for the company from $81.27 to $95.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. Oppenheimer restated a “buy” rating on shares of Medtronic in a research report on Thursday, December 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $94.00 price target on shares of Medtronic in a research report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $90.85.
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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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