Medtronic PLC (NYSE:MDT) Position Boosted by Princeton Portfolio Strategies Group LLC

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Princeton Portfolio Strategies Group LLC raised its holdings in shares of Medtronic PLC (NYSE:MDT) by 3.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,790 shares of the medical technology company’s stock after buying an additional 2,980 shares during the quarter. Medtronic comprises about 2.1% of Princeton Portfolio Strategies Group LLC’s holdings, making the stock its 14th largest position. Princeton Portfolio Strategies Group LLC’s holdings in Medtronic were worth $7,814,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Global Financial Private Capital LLC purchased a new position in shares of Medtronic during the 1st quarter worth approximately $503,000. Xact Kapitalforvaltning AB grew its stake in shares of Medtronic by 3.0% in the 1st quarter. Xact Kapitalforvaltning AB now owns 249,287 shares of the medical technology company’s stock worth $22,705,000 after buying an additional 7,333 shares during the last quarter. AJO LP grew its stake in shares of Medtronic by 12.4% in the 1st quarter. AJO LP now owns 63,749 shares of the medical technology company’s stock worth $5,806,000 after buying an additional 7,017 shares during the last quarter. Stanley Laman Group Ltd. grew its stake in shares of Medtronic by 4.1% in the 1st quarter. Stanley Laman Group Ltd. now owns 12,187 shares of the medical technology company’s stock worth $1,110,000 after buying an additional 485 shares during the last quarter. Finally, Reynders McVeigh Capital Management LLC lifted its position in Medtronic by 2.6% in the 1st quarter. Reynders McVeigh Capital Management LLC now owns 6,292 shares of the medical technology company’s stock valued at $573,000 after acquiring an additional 161 shares in the last quarter. Institutional investors and hedge funds own 80.10% of the company’s stock.

Several equities analysts recently issued reports on MDT shares. Barclays reaffirmed a “buy” rating and issued a $104.00 price objective on shares of Medtronic in a research report on Wednesday, February 20th. Oppenheimer set a $104.00 price objective on Medtronic and gave the company a “buy” rating in a research report on Wednesday, February 20th. UBS Group upped their price objective on Medtronic to $112.00 and gave the company a “buy” rating in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $121.00 price objective on shares of Medtronic in a research report on Monday, May 27th. Finally, Zacks Investment Research raised Medtronic from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Medtronic has a consensus rating of “Buy” and a consensus price target of $103.95.

In related 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 bought at an average price of $92.40 per share, for a total transaction of $1,007,160.00. Following the completion of the transaction, the director now owns 89,912 shares in the company, valued at approximately $8,307,868.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Geoffrey Martha sold 11,000 shares of Medtronic stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $96.05, for a total value of $1,056,550.00. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.

Shares of MDT stock opened at $97.50 on Friday. Medtronic PLC has a 52-week low of $81.66 and a 52-week high of $100.15. 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 firm has a market capitalization of $130.80 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 2.51 and a beta of 0.68.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.07. The firm had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.12 billion. Medtronic had a return on equity of 14.16% and a net margin of 15.15%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business posted $1.42 earnings per share. Analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

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About Medtronic

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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