Fernwood Investment Management LLC Increases Position in Medtronic PLC (MDT)

Fernwood Investment Management LLC lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 1.3% during the 1st quarter, Holdings Channel reports. The firm owned 18,910 shares of the medical technology company’s stock after acquiring an additional 250 shares during the period. Fernwood Investment Management LLC’s holdings in Medtronic were worth $1,722,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund grew its holdings in Medtronic by 8,884.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,286,072 shares of the medical technology company’s stock worth $146,000 after acquiring an additional 13,138,192 shares during the last quarter. Norges Bank bought a new stake in Medtronic during the 4th quarter worth approximately $1,120,279,000. American Century Companies Inc. grew its holdings in Medtronic by 23.0% during the 4th quarter. American Century Companies Inc. now owns 9,746,733 shares of the medical technology company’s stock worth $886,563,000 after acquiring an additional 1,821,093 shares during the last quarter. Geode Capital Management LLC grew its holdings in Medtronic by 10.2% during the 4th quarter. Geode Capital Management LLC now owns 16,690,207 shares of the medical technology company’s stock worth $1,515,557,000 after acquiring an additional 1,538,130 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in Medtronic by 242.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,150,823 shares of the medical technology company’s stock worth $195,639,000 after acquiring an additional 1,523,109 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

Shares of NYSE MDT opened at $87.77 on Wednesday. The company has a market capitalization of $117.66 billion, a PE ratio of 18.40, a PEG ratio of 2.18 and a beta of 0.78. Medtronic PLC has a 52-week low of $81.66 and a 52-week high of $100.15. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.92 and a current ratio of 2.36.



Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.05. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same quarter in the previous year, the company earned $1.17 EPS. Medtronic’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts expect that Medtronic PLC will post 5.15 EPS for the current year.

A number of research firms have weighed in on MDT. Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a report on Monday. Needham & Company LLC reissued a “strong-buy” rating and set a $117.00 target price (down from $120.00) on shares of Medtronic in a report on Monday, February 4th. Northland Securities reissued a “hold” rating and set a $84.00 target price on shares of Medtronic in a report on Monday, March 18th. Barclays restated a “buy” rating and issued a $104.00 price target on shares of Medtronic in a research report on Wednesday, February 20th. Finally, Citigroup boosted their price target on shares of Medtronic from $95.00 to $101.00 and gave the stock a “neutral” rating in a research report on Monday, February 25th. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $103.39.

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Medtronic Company 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.

Further Reading: Dividend

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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