Medtronic PLC (NYSE:MDT) Position Lifted by Reynders McVeigh Capital Management LLC

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Reynders McVeigh Capital Management LLC increased its position in Medtronic PLC (NYSE:MDT) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,292 shares of the medical technology company’s stock after acquiring an additional 161 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in Medtronic were worth $573,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MDT. Cordasco Financial Network acquired a new position in Medtronic in the first quarter valued at about $27,000. Pin Oak Investment Advisors Inc. boosted its position in Medtronic by 158.0% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock valued at $34,000 after buying an additional 226 shares in the last quarter. Spectrum Management Group Inc. boosted its position in Medtronic by 353.8% in the first quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock valued at $38,000 after buying an additional 322 shares in the last quarter. Mackey Komara & Dankovich LLC acquired a new position in Medtronic in the first quarter valued at about $38,000. Finally, Capital Financial Planning LLC acquired a new position in Medtronic in the fourth quarter valued at about $42,000. Institutional investors own 80.10% of the company’s stock.

In other Medtronic news, Director Richard H. Anderson purchased 10,900 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average cost of $92.40 per share, with a total value of $1,007,160.00. Following the completion of the purchase, the director now directly owns 89,912 shares in the company, valued at approximately $8,307,868.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Geoffrey Martha sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $96.05, for a total transaction of $1,056,550.00. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

MDT opened at $97.53 on Thursday. The company has a quick ratio of 2.15, a current ratio of 2.59 and a debt-to-equity ratio of 0.49. The company has a market cap of $130.84 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 2.51 and a beta of 0.68. Medtronic PLC has a fifty-two week low of $81.66 and a fifty-two week high of $100.15.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.07. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.12 billion. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. Medtronic’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.42 earnings per share. On average, equities research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

MDT has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Wells Fargo & Co reduced their target price on shares of Medtronic from $101.00 to $100.00 and set a “market perform” rating on the stock in a research report on Thursday, April 4th. Oppenheimer set a $104.00 target price on shares of Medtronic and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Northland Securities reiterated a “hold” rating and set a $84.00 target price on shares of Medtronic in a research report on Monday, March 18th. Finally, Citigroup upped their target price on shares of Medtronic from $95.00 to $101.00 and gave the stock a “neutral” rating in a research report on Monday, February 25th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $103.95.

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Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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