Timber Hill LLC Sells 26,082 Shares of Medtronic PLC (MDT)

Timber Hill LLC lessened its stake in shares of Medtronic PLC (NYSE:MDT) by 87.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,749 shares of the medical technology company’s stock after selling 26,082 shares during the period. Timber Hill LLC’s holdings in Medtronic were worth $301,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. increased its stake in shares of Medtronic by 6.4% in the 4th quarter. BlackRock Inc. now owns 94,595,580 shares of the medical technology company’s stock valued at $7,638,592,000 after purchasing an additional 5,688,180 shares during the last quarter. HealthCor Management L.P. increased its stake in shares of Medtronic by 2,850.1% in the 4th quarter. HealthCor Management L.P. now owns 1,950,000 shares of the medical technology company’s stock valued at $157,463,000 after purchasing an additional 1,883,900 shares during the last quarter. Rockefeller Financial Services Inc. increased its stake in shares of Medtronic by 2,695.0% in the 4th quarter. Rockefeller Financial Services Inc. now owns 1,366,961 shares of the medical technology company’s stock valued at $110,382,000 after purchasing an additional 1,318,054 shares during the last quarter. Boston Partners increased its stake in shares of Medtronic by 75.2% in the 4th quarter. Boston Partners now owns 2,810,699 shares of the medical technology company’s stock valued at $226,964,000 after purchasing an additional 1,206,093 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Medtronic by 10,043.8% in the 4th quarter. Mackenzie Financial Corp now owns 940,225 shares of the medical technology company’s stock valued at $75,923,000 after purchasing an additional 930,956 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

MDT has been the topic of several recent analyst reports. Citigroup reiterated a “buy” rating and issued a $93.00 price target (down previously from $100.00) on shares of Medtronic in a research note on Thursday, February 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 14th. Oppenheimer reiterated a “buy” rating on shares of Medtronic in a research note on Tuesday, March 20th. Piper Jaffray initiated coverage on Medtronic in a research note on Friday, April 27th. They issued an “overweight” rating and a $90.00 price target on the stock. Finally, Morgan Stanley decreased their price target on Medtronic from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $91.39.

In other Medtronic news, Director James T. Lenehan sold 1,306 shares of Medtronic stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $83.56, for a total transaction of $109,129.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Carol A. Surface sold 24,479 shares of Medtronic stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $78.18, for a total value of $1,913,768.22. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Shares of MDT stock opened at $84.64 on Friday. The firm has a market cap of $115.36 billion, a P/E ratio of 18.15, a PEG ratio of 2.34 and a beta of 0.94. Medtronic PLC has a twelve month low of $76.41 and a twelve month high of $89.72. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.09 and a current ratio of 2.43.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.01. The business had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.20 billion. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. Medtronic’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS. equities research analysts expect that Medtronic PLC will post 4.74 EPS for the current fiscal year.

About Medtronic

Medtronic plc manufactures and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. The company's Cardiac and Vascular Group segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; diagnostics and monitoring devices; mechanical circulatory support, TYRX, and AF products; and remote monitoring and patient-centered software.

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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