OPSEU Pension Plan Trust Fund Acquires 1,614 Shares of Medtronic plc (NYSE:MDT)

Share on StockTwits

OPSEU Pension Plan Trust Fund increased its holdings in Medtronic plc (NYSE:MDT) by 12.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,792 shares of the medical technology company’s stock after purchasing an additional 1,614 shares during the period. OPSEU Pension Plan Trust Fund’s holdings in Medtronic were worth $1,518,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Evolution Wealth Advisors LLC lifted its position in shares of Medtronic by 403.7% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 272 shares of the medical technology company’s stock worth $25,000 after purchasing an additional 218 shares during the last quarter. Price Wealth LLC boosted its stake in Medtronic by 73.2% in the 2nd quarter. Price Wealth LLC now owns 291 shares of the medical technology company’s stock valued at $27,000 after buying an additional 123 shares in the last quarter. Spectrum Management Group LLC boosted its stake in Medtronic by 317.5% in the 3rd quarter. Spectrum Management Group LLC now owns 263 shares of the medical technology company’s stock valued at $27,000 after buying an additional 200 shares in the last quarter. JFS Wealth Advisors LLC boosted its stake in Medtronic by 64.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 311 shares of the medical technology company’s stock valued at $29,000 after buying an additional 122 shares in the last quarter. Finally, Coastal Capital Group Inc. boosted its stake in Medtronic by 137.0% in the 3rd quarter. Coastal Capital Group Inc. now owns 282 shares of the medical technology company’s stock valued at $29,000 after buying an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Several analysts recently commented on MDT shares. Jefferies Financial Group boosted their price target on Medtronic from $120.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. Raymond James boosted their price target on Medtronic from $107.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Citigroup boosted their price target on Medtronic from $108.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Morgan Stanley boosted their price objective on Medtronic from $106.00 to $111.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 26th. Finally, BTIG Research boosted their price objective on Medtronic from $102.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $116.69.

Shares of MDT stock traded down $1.67 on Tuesday, reaching $109.95. 54,619 shares of the stock were exchanged, compared to its average volume of 5,751,023. The stock has a market cap of $150.04 billion, a PE ratio of 33.65, a P/E/G ratio of 3.35 and a beta of 0.64. Medtronic plc has a one year low of $72.13 and a one year high of $122.15. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.87 and a quick ratio of 1.53. The stock has a 50 day moving average price of $106.58 and a 200 day moving average price of $100.36.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 25th. The medical technology company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.41. The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $5.48 billion. Medtronic had a return on equity of 10.47% and a net margin of 15.80%. The firm’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.26 earnings per share. On average, research analysts expect that Medtronic plc will post 3.93 earnings per share for the current fiscal year.

In related news, Director Richard H. Anderson acquired 4,607 shares of the company’s stock in a transaction that occurred on Thursday, October 8th. The stock was acquired at an average price of $108.52 per share, for a total transaction of $499,951.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bradley E. Lerman sold 20,714 shares of the company’s stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $110.00, for a total value of $2,278,540.00. Following the completion of the sale, the senior vice president now owns 74,242 shares of the company’s stock, valued at approximately $8,166,620. The disclosure for this sale can be found here. Insiders sold 41,326 shares of company stock valued at $4,441,498 in the last quarter. 0.52% of the stock is currently owned by corporate insiders.

About Medtronic

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.

See Also: Does the Dogs of the Dow strategy work?

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc (NYSE:MDT).

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply