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% during the first quarter, Holdings Channel reports. The institutional investor owned 15,956 shares of the medical technology company’s stock after buying 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 filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in MDT. Banco de Sabadell S.A grew its stake in shares of Medtronic by 6.5% in the 1st quarter. Banco de Sabadell S.A now owns 20,987 shares of the medical technology company’s stock valued at $1,684,000 after purchasing an additional 1,287 shares during the last quarter. Verition Fund Management LLC grew its stake in shares of Medtronic by 3.7% in the 1st quarter. Verition Fund Management LLC now owns 44,582 shares of the medical technology company’s stock valued at $3,576,000 after purchasing an additional 1,579 shares during the last quarter. STA Wealth Management LLC grew its stake in shares of Medtronic by 9.4% in the 1st quarter. STA Wealth Management LLC now owns 15,900 shares of the medical technology company’s stock valued at $1,275,000 after purchasing an additional 1,370 shares during the last quarter. First Commonwealth Financial Corp PA grew its stake in shares of Medtronic by 84.6% in the 1st quarter. First Commonwealth Financial Corp PA now owns 5,450 shares of the medical technology company’s stock valued at $437,000 after purchasing an additional 2,498 shares during the last quarter. Finally, Aristotle Capital Management LLC grew its stake in shares of Medtronic by 4.8% in the 1st quarter. Aristotle Capital Management LLC now owns 4,602,487 shares of the medical technology company’s stock valued at $369,212,000 after purchasing an additional 208,785 shares during the last quarter. Hedge funds and other institutional investors own 80.34% of the company’s stock.

In other news, SVP Richard Kuntz sold 11,500 shares of the business’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $87.13, for a total value of $1,001,995.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bradley E. Lerman sold 8,910 shares of the business’s 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. Insiders own 0.31% of the company’s stock.

MDT has been the topic of several analyst reports. TheStreet upgraded Medtronic from a “c+” rating to a “b-” rating in a research note on Monday, May 21st. Oppenheimer reiterated a “buy” rating and issued a $96.00 target price on shares of Medtronic in a research note on Thursday, May 24th. SunTrust Banks raised their price target on Medtronic to $96.00 and gave the company a “buy” rating in a report on Monday, May 21st. Citigroup reissued a “buy” rating and issued a $93.00 price target (down from $100.00) on shares of Medtronic in a report on Thursday, February 22nd. Finally, Needham & Company LLC raised their price target on Medtronic from $97.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, June 6th. One investment 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 presently has a consensus rating of “Buy” and a consensus price target of $92.82.

Medtronic traded up $0.63, hitting $86.47, during midday trading on Thursday, Marketbeat reports. 9,794 shares of the stock were exchanged, compared to its average volume of 5,230,863. Medtronic PLC has a fifty-two week low of $76.41 and a fifty-two week high of $89.72. The stock has a market cap of $117.36 billion, a PE ratio of 18.11, a P/E/G ratio of 2.37 and a beta of 0.94. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.92 and a current ratio of 2.28.

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 the Zacks’ consensus estimate of $1.39 by $0.03. Medtronic had a return on equity of 12.84% and a net margin of 10.36%. The company had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. equities research analysts predict that Medtronic PLC will post 5.12 earnings per share for the current year.

About Medtronic

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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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