Meyer Handelman Co. Has $25.48 Million Position in Medtronic PLC (MDT)

Meyer Handelman Co. lifted its position in shares of Medtronic PLC (NYSE:MDT) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 327,586 shares of the medical technology company’s stock after acquiring an additional 13,221 shares during the period. Medtronic makes up approximately 1.2% of Meyer Handelman Co.’s portfolio, making the stock its 29th largest position. Meyer Handelman Co.’s holdings in Medtronic were worth $25,476,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its position in shares of Medtronic by 22.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after acquiring an additional 210 shares in the last quarter. BDO Wealth Advisors LLC bought a new stake in Medtronic in the 2nd quarter worth approximately $103,000. Motco grew its position in Medtronic by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares during the period. Quadrant Capital Group LLC grew its position in Medtronic by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after purchasing an additional 290 shares during the period. Finally, Israel Discount Bank of New York bought a new stake in Medtronic in the 1st quarter worth approximately $117,000. 81.85% of the stock is owned by institutional investors.

Shares of Medtronic PLC (NYSE MDT) traded up $1.05 during mid-day trading on Wednesday, hitting $80.92. 5,392,200 shares of the stock were exchanged, compared to its average volume of 4,959,266. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. The company has a market cap of $108,103.88, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 2.20 and a beta of 1.00.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. sell-side analysts expect that Medtronic PLC will post 4.77 earnings per share for the current fiscal year.

In related news, CEO Omar Ishrak sold 140,407 shares of Medtronic stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the transaction, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,407 shares of company stock worth $13,974,223. 0.31% of the stock is owned by corporate insiders.

A number of research firms have commented on MDT. SunTrust Banks reaffirmed a “buy” rating and issued a $96.00 target price on shares of Medtronic in a research report on Monday, October 2nd. BidaskClub raised shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Jefferies Group reaffirmed a “buy” rating and issued a $96.00 target price on shares of Medtronic in a research report on Thursday, September 28th. Northland Securities reaffirmed a “hold” rating and issued a $80.00 target price on shares of Medtronic in a research report on Wednesday, November 22nd. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $94.00 target price on shares of Medtronic in a research report on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $88.02.

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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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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