Point72 Asset Management L.P. decreased its position in Medtronic PLC (NYSE:MDT) by 64.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 741,199 shares of the medical technology company’s stock after selling 1,347,826 shares during the period. Point72 Asset Management L.P. owned about 0.05% of Medtronic worth $59,459,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. We Are One Seven LLC purchased a new stake in shares of Medtronic in the fourth quarter worth $104,000. BB&T Investment Services Inc. raised its position in shares of Medtronic by 147.6% in the fourth quarter. BB&T Investment Services Inc. now owns 1,518 shares of the medical technology company’s stock worth $126,000 after buying an additional 905 shares in the last quarter. Barrett Asset Management LLC raised its position in shares of Medtronic by 856.0% in the fourth quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock worth $147,000 after buying an additional 1,635 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of Medtronic by 51.2% in the fourth quarter. Proficio Capital Partners LLC now owns 2,201 shares of the medical technology company’s stock worth $178,000 after buying an additional 745 shares in the last quarter. Finally, Bedel Financial Consulting Inc. purchased a new stake in shares of Medtronic in the first quarter worth $193,000. Institutional investors and hedge funds own 80.19% of the company’s stock.
Shares of Medtronic traded up $0.23, reaching $86.36, during trading on Thursday, MarketBeat reports. 37,721 shares of the stock were exchanged, compared to its average volume of 4,661,786. The company has a current ratio of 2.28, a quick ratio of 1.92 and a debt-to-equity ratio of 0.47. The firm has a market cap of $117.39 billion, a P/E ratio of 18.17, a P/E/G ratio of 2.37 and a beta of 0.94. Medtronic PLC has a 1 year low of $76.41 and a 1 year high of $89.72.
In other Medtronic news, SVP Richard Kuntz sold 11,500 shares of the firm’s stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $87.13, for a total value of $1,001,995.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bradley E. Lerman sold 8,910 shares of the firm’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $86.82, for a total transaction of $773,566.20. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
A number of research firms recently commented on MDT. Oppenheimer reissued a “buy” rating and issued a $96.00 target price on shares of Medtronic in a research note on Thursday, May 24th. William Blair began coverage on Medtronic in a research note on Wednesday, June 6th. They issued a “market perform” rating on the stock. Piper Jaffray Companies increased their target price on Medtronic to $96.00 and gave the company an “overweight” rating in a research note on Friday, May 25th. SunTrust Banks increased their target price on Medtronic to $96.00 and gave the company a “buy” rating in a research note on Monday, May 21st. Finally, TheStreet raised Medtronic from a “c+” rating to a “b-” rating in a research note on Monday, May 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $92.82.
Medtronic Company Profile
Medtronic plc manufactures and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. The company's Cardiac and Vascular Group segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; diagnostics and monitoring devices; mechanical circulatory support, TYRX, and AF products; and remote monitoring and patient-centered software.
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