Medtronic PLC (MDT) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its stake in Medtronic PLC (NYSE:MDT) by 3.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 6,824,585 shares of the medical technology company’s stock after selling 225,864 shares during the period. Legal & General Group Plc owned 0.50% of Medtronic worth $584,522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Affiance Financial LLC boosted its holdings in shares of Medtronic by 18.6% in the 2nd quarter. Affiance Financial LLC now owns 8,080 shares of the medical technology company’s stock valued at $692,000 after buying an additional 1,268 shares during the period. AdvisorNet Financial Inc boosted its holdings in shares of Medtronic by 11.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 39,991 shares of the medical technology company’s stock valued at $3,424,000 after buying an additional 4,038 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Medtronic by 85.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 35,946 shares of the medical technology company’s stock valued at $3,077,000 after buying an additional 16,530 shares during the period. Pure Financial Advisors Inc. acquired a new position in shares of Medtronic in the 2nd quarter valued at about $308,000. Finally, Hengehold Capital Management LLC acquired a new position in shares of Medtronic in the 2nd quarter valued at about $2,149,000. 79.80% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently commented on MDT. Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a report on Thursday. Citigroup lifted their price target on shares of Medtronic from $104.00 to $109.00 and gave the company a “buy” rating in a report on Friday. Leerink Swann lifted their price target on shares of Medtronic from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Wednesday, August 22nd. Royal Bank of Canada lifted their price target on shares of Medtronic to $104.00 and gave the company an “outperform” rating in a report on Wednesday, August 22nd. Finally, Bank of America lifted their price target on shares of Medtronic from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, August 22nd. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $99.92.

In related news, Director Richard H. Anderson purchased 2,600 shares of Medtronic stock in a transaction dated Thursday, August 23rd. The stock was bought at an average cost of $95.88 per share, with a total value of $249,288.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael J. Coyle sold 145,544 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $95.50, for a total transaction of $13,899,452.00. Following the completion of the sale, the executive vice president now directly owns 190,680 shares of the company’s stock, valued at $18,209,940. The disclosure for this sale can be found here. Insiders have sold a total of 165,954 shares of company stock valued at $15,675,013 over the last three months. 0.31% of the stock is currently owned by company insiders.

Medtronic stock opened at $95.71 on Monday. The company has a quick ratio of 2.06, a current ratio of 2.46 and a debt-to-equity ratio of 0.47. The stock has a market cap of $129.16 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 2.52 and a beta of 0.94. Medtronic PLC has a 52-week low of $76.41 and a 52-week high of $96.50.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.06. The firm had revenue of $7.38 billion during the quarter, compared to analyst estimates of $7.24 billion. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. Medtronic’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 EPS. equities analysts forecast that Medtronic PLC will post 5.12 EPS for the current fiscal year.

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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