Medtronic plc (NYSE:MDT) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its stake in shares of Medtronic plc (NYSE:MDT) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,454 shares of the medical technology company’s stock after selling 6,110 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Medtronic were worth $25,136,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Illinois Municipal Retirement Fund increased its stake in Medtronic by 307.2% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 119,389 shares of the medical technology company’s stock valued at $10,518,000 after purchasing an additional 90,068 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of Medtronic by 109.0% in the first quarter. Toronto Dominion Bank now owns 802,643 shares of the medical technology company’s stock worth $64,674,000 after acquiring an additional 418,648 shares during the period. Trust Co. of Toledo NA OH increased its stake in shares of Medtronic by 20.6% in the second quarter. Trust Co. of Toledo NA OH now owns 17,220 shares of the medical technology company’s stock worth $1,517,000 after acquiring an additional 2,940 shares during the period. Viawealth LLC increased its stake in shares of Medtronic by 3.3% in the first quarter. Viawealth LLC now owns 12,085 shares of the medical technology company’s stock worth $974,000 after acquiring an additional 390 shares during the period. Finally, Argent Trust Co increased its stake in shares of Medtronic by 5.0% in the first quarter. Argent Trust Co now owns 40,743 shares of the medical technology company’s stock worth $3,285,000 after acquiring an additional 1,948 shares during the period. Institutional investors and hedge funds own 80.75% of the company’s stock.

Medtronic Price Performance

Shares of MDT opened at $75.16 on Tuesday. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02. The firm’s 50 day moving average price is $75.08 and its 200 day moving average price is $81.85. The company has a market cap of $100.00 billion, a P/E ratio of 27.73, a PEG ratio of 2.63 and a beta of 0.71. The company has a quick ratio of 1.79, a current ratio of 2.42 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.11 by $0.09. Medtronic had a net margin of 11.47% and a return on equity of 13.81%. The company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.57 billion. During the same quarter in the previous year, the business posted $1.13 EPS. The firm’s revenue was up 4.5% on a year-over-year basis. On average, research analysts forecast that Medtronic plc will post 5.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Medtronic news, EVP Gregory L. Smith sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $83.84, for a total transaction of $838,400.00. Following the completion of the transaction, the executive vice president now owns 46,723 shares in the company, valued at approximately $3,917,256.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MDT shares. Mizuho increased their price objective on shares of Medtronic from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. UBS Group increased their price objective on shares of Medtronic from $79.00 to $82.00 and gave the stock a “sell” rating in a research note on Wednesday, August 23rd. Oppenheimer reiterated a “market perform” rating and issued a $89.00 price objective on shares of Medtronic in a research note on Wednesday, August 23rd. StockNews.com assumed coverage on shares of Medtronic in a report on Thursday, October 5th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company raised their price target on shares of Medtronic from $100.00 to $102.00 and gave the company an “overweight” rating in a research report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average price target of $91.94.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.