Highlander Capital Management LLC Grows Position in Medtronic PLC (MDT)

Highlander Capital Management LLC increased its position in shares of Medtronic PLC (NYSE:MDT) by 40.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,956 shares of the medical technology company’s stock after purchasing an additional 4,600 shares during the quarter. Highlander Capital Management LLC’s holdings in Medtronic were worth $1,231,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MDT. We Are One Seven LLC acquired a new position in Medtronic in the fourth quarter valued at approximately $104,000. BB&T Investment Services Inc. lifted its holdings in 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 valued at $126,000 after acquiring an additional 905 shares during the period. Barrett Asset Management LLC lifted its holdings in Medtronic by 856.0% in the fourth quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock valued at $147,000 after acquiring an additional 1,635 shares during the period. Proficio Capital Partners LLC lifted its holdings in Medtronic by 51.2% in the fourth quarter. Proficio Capital Partners LLC now owns 2,201 shares of the medical technology company’s stock valued at $178,000 after acquiring an additional 745 shares during the period. Finally, Bedel Financial Consulting Inc. acquired a new position in Medtronic in the first quarter valued at approximately $193,000. 80.34% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Richard Kuntz sold 11,500 shares of the stock in a transaction on Friday, June 8th. The stock was sold at an average price of $87.13, for a total transaction of $1,001,995.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Bradley E. Lerman sold 8,910 shares of the stock in a transaction on Monday, June 11th. The stock was sold at an average price of $86.82, for a total value of $773,566.20. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

NYSE:MDT traded up $0.63 during trading hours on Thursday, hitting $86.47. The company had a trading volume of 9,794 shares, compared to its average volume of 5,230,863. The company has a quick ratio of 1.92, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. The stock has a market cap of $117.36 billion, a P/E ratio of 18.11, a PEG 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.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Thursday, May 24th. The medical technology company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8 billion. Medtronic had a return on equity of 12.84% and a net margin of 10.36%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.33 EPS. equities analysts anticipate that Medtronic PLC will post 5.12 earnings per share for the current year.

MDT has been the subject of a number of analyst reports. Morgan Stanley decreased their price target on Medtronic from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday, March 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $92.00 price target on shares of Medtronic in a report on Wednesday, February 14th. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a research note on Tuesday, March 20th. Citigroup reaffirmed a “buy” rating and set a $93.00 target price (down from $100.00) on shares of Medtronic in a research note on Thursday, February 22nd. Finally, Raymond James started coverage on Medtronic in a research note on Thursday, May 31st. They set an “outperform” rating and a $96.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average 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.

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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