Crestwood Advisors Group LLC Purchases 26,765 Shares of Medtronic plc (NYSE:MDT)

Crestwood Advisors Group LLC raised its holdings in Medtronic plc (NYSE:MDT) by 8.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 335,657 shares of the medical technology company’s stock after purchasing an additional 26,765 shares during the period. Medtronic comprises about 1.3% of Crestwood Advisors Group LLC’s holdings, making the stock its 24th largest holding. Crestwood Advisors Group LLC’s holdings in Medtronic were worth $39,319,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of MDT. Diversified LLC bought a new stake in shares of Medtronic in the fourth quarter worth about $25,000. Spectrum Management Group LLC grew its position in shares of Medtronic by 317.5% in the 3rd quarter. Spectrum Management Group LLC now owns 263 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 200 shares during the period. Clark Financial Advisors bought a new stake in Medtronic during the 4th quarter worth approximately $29,000. Financial Avengers Inc. acquired a new stake in Medtronic during the 4th quarter worth approximately $29,000. Finally, Catalyst Private Wealth LLC bought a new position in Medtronic in the third quarter valued at approximately $31,000. 79.17% of the stock is currently owned by institutional investors.

In other news, EVP Robert John White sold 10,930 shares of the business’s stock in a transaction on Friday, December 18th. The stock was sold at an average price of $115.46, for a total transaction of $1,261,977.80. Following the completion of the transaction, the executive vice president now owns 55,852 shares of the company’s stock, valued at approximately $6,448,671.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Carol A. Surface sold 15,000 shares of the company’s stock in a transaction on Monday, December 28th. The stock was sold at an average price of $114.90, for a total value of $1,723,500.00. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.

Shares of NYSE MDT traded up $3.02 during mid-day trading on Tuesday, reaching $118.77. The company had a trading volume of 237,500 shares, compared to its average volume of 4,571,249. The firm has a market cap of $159.87 billion, a price-to-earnings ratio of 44.18, a PEG ratio of 3.65 and a beta of 0.70. The business’s 50-day simple moving average is $116.82 and its 200 day simple moving average is $110.18. Medtronic plc has a one year low of $72.13 and a one year high of $120.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.79 and a current ratio of 2.16.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 23rd. The medical technology company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.14. Medtronic had a net margin of 12.69% and a return on equity of 9.71%. The firm had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.77 billion. During the same period in the prior year, the company posted $1.44 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts anticipate that Medtronic plc will post 4.21 EPS for the current year.

Several equities research analysts have recently issued reports on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on shares of Medtronic from $120.00 to $128.00 in a research report on Wednesday, November 25th. Smith Barney Citigroup boosted their price target on Medtronic from $120.00 to $128.00 in a report on Wednesday, November 25th. UBS Group increased their price objective on Medtronic from $123.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, November 25th. BTIG Research boosted their target price on Medtronic from $119.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, November 25th. Finally, Oppenheimer raised their price target on shares of Medtronic from $122.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Medtronic has an average rating of “Buy” and an average price target of $120.93.

About Medtronic

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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