Evercore Wealth Management LLC Has $3.40 Million Position in Medtronic PLC (MDT)

Evercore Wealth Management LLC cut its stake in shares of Medtronic PLC (NYSE:MDT) by 10.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 34,552 shares of the medical technology company’s stock after selling 4,009 shares during the quarter. Evercore Wealth Management LLC’s holdings in Medtronic were worth $3,399,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MDT. Invictus RG bought a new position in shares of Medtronic in the 3rd quarter worth approximately $415,000. WEALTHFRONT Corp raised its position in shares of Medtronic by 11.9% in the 3rd quarter. WEALTHFRONT Corp now owns 33,951 shares of the medical technology company’s stock worth $3,340,000 after acquiring an additional 3,619 shares in the last quarter. Utah Retirement Systems raised its position in shares of Medtronic by 0.4% in the 3rd quarter. Utah Retirement Systems now owns 251,758 shares of the medical technology company’s stock worth $24,766,000 after acquiring an additional 1,100 shares in the last quarter. Highbridge Capital Management LLC raised its position in shares of Medtronic by 1,651.6% in the 3rd quarter. Highbridge Capital Management LLC now owns 40,342 shares of the medical technology company’s stock worth $3,968,000 after acquiring an additional 42,942 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Medtronic in the 3rd quarter worth approximately $171,182,000. Institutional investors own 80.44% of the company’s stock.

MDT stock opened at $96.24 on Friday. Medtronic PLC has a twelve month low of $76.41 and a twelve month high of $100.15. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.56 and a quick ratio of 2.11. The company has a market cap of $129.59 billion, a P/E ratio of 20.18, a P/E/G ratio of 2.51 and a beta of 0.96.



Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 20th. The medical technology company reported $1.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.07. Medtronic had a return on equity of 13.51% and a net margin of 7.44%. The company had revenue of $7.48 billion during the quarter, compared to analyst estimates of $7.35 billion. During the same quarter last year, the company earned $1.07 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts forecast that Medtronic PLC will post 5.13 earnings per share for the current fiscal year.

In related news, EVP Geoffrey Martha sold 49,799 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $97.93, for a total transaction of $4,876,816.07. Following the completion of the transaction, the executive vice president now owns 87,872 shares of the company’s stock, valued at approximately $8,605,304.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.28% of the stock is owned by company insiders.

MDT has been the subject of several research reports. Argus increased their target price on Medtronic from $95.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, August 27th. SunTrust Banks increased their target price on Medtronic to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Citigroup increased their target price on Medtronic from $104.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Bank of America increased their target price on Medtronic from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. Finally, Oppenheimer reissued a “buy” rating and issued a $104.00 target price on shares of Medtronic in a research report on Tuesday, August 21st. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Medtronic presently has a consensus rating of “Buy” and a consensus price target of $104.87.

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Medtronic 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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