Rothschild & Co. Asset Management US Inc. trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 22.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 634,576 shares of the medical technology company’s stock after selling 184,705 shares during the quarter. Medtronic makes up approximately 1.2% of Rothschild & Co. Asset Management US Inc.’s investment portfolio, making the stock its 6th largest position. Rothschild & Co. Asset Management US Inc.’s holdings in Medtronic were worth $65,946,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Spectrum Management Group LLC increased its holdings in Medtronic by 317.5% in the 3rd quarter. Spectrum Management Group LLC now owns 263 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 200 shares in the last quarter. Evolution Wealth Advisors LLC grew its position in shares of Medtronic by 403.7% in the second quarter. Evolution Wealth Advisors LLC now owns 272 shares of the medical technology company’s stock valued at $25,000 after purchasing an additional 218 shares during the period. Coastal Capital Group Inc. increased its stake in shares of Medtronic by 137.0% during the third quarter. Coastal Capital Group Inc. now owns 282 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 163 shares in the last quarter. Price Wealth LLC raised its position in shares of Medtronic by 73.2% during the 2nd quarter. Price Wealth LLC now owns 291 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 123 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new position in shares of Medtronic during the 3rd quarter worth about $31,000. Hedge funds and other institutional investors own 79.90% of the company’s stock.
In related news, Chairman Omar Ishrak sold 763 shares of the stock in a transaction on Friday, October 9th. The stock was sold at an average price of $108.40, for a total value of $82,709.20. Following the transaction, the chairman now owns 561,032 shares of the company’s stock, valued at $60,815,868.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Bradley E. Lerman sold 20,714 shares of Medtronic stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $110.00, for a total value of $2,278,540.00. Following the sale, the senior vice president now directly owns 74,242 shares of the company’s stock, valued at $8,166,620. The disclosure for this sale can be found here. Insiders have sold 41,326 shares of company stock worth $4,441,498 over the last 90 days. Insiders own 0.52% of the company’s stock.
Shares of NYSE:MDT traded down $1.59 during trading on Tuesday, hitting $110.03. The company’s stock had a trading volume of 51,132 shares, compared to its average volume of 5,751,023. Medtronic plc has a fifty-two week low of $72.13 and a fifty-two week high of $122.15. The business has a 50 day moving average price of $106.58 and a two-hundred day moving average price of $100.36. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.53 and a current ratio of 1.87. The company has a market capitalization of $150.04 billion, a PE ratio of 34.13, a P/E/G ratio of 3.35 and a beta of 0.64.
Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 25th. The medical technology company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.41. The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Medtronic had a return on equity of 10.47% and a net margin of 15.80%. Medtronic’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 EPS. As a group, equities analysts expect that Medtronic plc will post 3.93 earnings per share for the current fiscal year.
Several research firms have commented on MDT. Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Medtronic in a research note on Tuesday, August 18th. Jefferies Financial Group boosted their price target on Medtronic from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, October 15th. Piper Sandler restated a “buy” rating and issued a $120.00 price objective on shares of Medtronic in a report on Tuesday, August 11th. BTIG Research lifted their target price on shares of Medtronic from $102.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Finally, Needham & Company LLC increased their target price on shares of Medtronic from $113.00 to $124.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $116.69.
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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