Lee Danner & Bass Inc. cut its position in shares of Medtronic PLC (NYSE:MDT) by 0.5% in the first quarter, HoldingsChannel reports. The firm owned 60,044 shares of the medical technology company’s stock after selling 303 shares during the period. Lee Danner & Bass Inc.’s holdings in Medtronic were worth $5,469,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of MDT. Tributary Capital Management LLC purchased a new stake in shares of Medtronic during the 4th quarter worth about $27,000. Cordasco Financial Network purchased a new stake in shares of Medtronic during the 1st quarter worth about $27,000. Pin Oak Investment Advisors Inc. raised its stake in shares of Medtronic by 158.0% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock worth $34,000 after purchasing an additional 226 shares in the last quarter. Spectrum Management Group Inc. raised its stake in shares of Medtronic by 353.8% during the 1st quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 322 shares in the last quarter. Finally, Mackey Komara & Dankovich LLC purchased a new stake in shares of Medtronic during the 1st quarter worth about $38,000. 81.23% of the stock is owned by institutional investors.
A number of research analysts have recently commented on MDT shares. Oppenheimer set a $104.00 price objective on Medtronic and gave the company a “buy” rating in a report on Wednesday, February 20th. Wells Fargo & Co lowered their price objective on Medtronic from $101.00 to $100.00 and set a “market perform” rating on the stock in a report on Thursday, April 4th. Citigroup increased their price objective on Medtronic from $95.00 to $101.00 and gave the company a “neutral” rating in a report on Monday, February 25th. Barclays reissued a “buy” rating and set a $104.00 price objective on shares of Medtronic in a report on Wednesday, February 20th. Finally, Northland Securities reissued a “hold” rating and set a $84.00 price objective on shares of Medtronic in a report on Monday, March 18th. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $103.39.
Medtronic (NYSE:MDT) last released its earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.07. The firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.12 billion. Medtronic had a return on equity of 13.85% and a net margin of 16.10%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $1.42 EPS. Research analysts expect that Medtronic PLC will post 5.15 EPS for the current fiscal year.
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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.
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