Thornburg Investment Management Inc. Decreases Stake in Medtronic (MDT)

Thornburg Investment Management Inc. lowered its position in Medtronic (NYSE:MDT) by 4.7% in the 1st quarter, HoldingsChannel reports. The fund owned 643,526 shares of the medical technology company’s stock after selling 31,827 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Medtronic were worth $51,624,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in Medtronic by 6.4% during the 4th quarter. BlackRock Inc. now owns 94,595,580 shares of the medical technology company’s stock valued at $7,638,592,000 after buying an additional 5,688,180 shares in the last quarter. HealthCor Management L.P. increased its position in Medtronic by 2,850.1% during the 4th quarter. HealthCor Management L.P. now owns 1,950,000 shares of the medical technology company’s stock valued at $157,463,000 after buying an additional 1,883,900 shares in the last quarter. Rockefeller Financial Services Inc. increased its position in Medtronic by 2,695.0% during the 4th quarter. Rockefeller Financial Services Inc. now owns 1,366,961 shares of the medical technology company’s stock valued at $110,382,000 after buying an additional 1,318,054 shares in the last quarter. Boston Partners increased its position in Medtronic by 75.2% during the 4th quarter. Boston Partners now owns 2,810,699 shares of the medical technology company’s stock valued at $226,964,000 after buying an additional 1,206,093 shares in the last quarter. Finally, Vontobel Asset Management Inc. increased its position in Medtronic by 42.6% during the 4th quarter. Vontobel Asset Management Inc. now owns 3,770,498 shares of the medical technology company’s stock valued at $312,460,000 after buying an additional 1,127,308 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on the company. Piper Jaffray assumed coverage on Medtronic in a research report on Friday, April 27th. They set an “overweight” rating and a $90.00 price objective for the company. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a research report on Tuesday, March 20th. Citigroup reaffirmed a “buy” rating and set a $93.00 price objective (down previously from $100.00) on shares of Medtronic in a research report on Thursday, February 22nd. TheStreet lowered Medtronic from a “b” rating to a “c+” rating in a research report on Tuesday, February 20th. Finally, Morgan Stanley raised their price objective on Medtronic from $91.00 to $95.00 and gave the company an “equal weight” rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $91.18.



In other news, Director James T. Lenehan sold 1,306 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $83.56, for a total value of $109,129.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Carol A. Surface sold 24,479 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $78.18, for a total value of $1,913,768.22. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Medtronic opened at $85.56 on Monday, MarketBeat Ratings reports. The firm has a market capitalization of $115.97 billion, a PE ratio of 18.24, a PEG ratio of 2.35 and a beta of 0.94. Medtronic has a 1 year low of $76.41 and a 1 year high of $89.72. The company has a current ratio of 2.43, a quick ratio of 2.09 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.01. The firm had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.20 billion. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the business posted $1.12 EPS. equities research analysts expect that Medtronic will post 4.74 earnings per share for the current fiscal year.

Medtronic 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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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