Tredje AP fonden boosted its position in shares of Medtronic PLC (NYSE:MDT) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 116,235 shares of the medical technology company’s stock after acquiring an additional 2,867 shares during the quarter. Tredje AP fonden’s holdings in Medtronic were worth $10,645,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Cordasco Financial Network purchased a new stake in Medtronic in the first quarter worth about $27,000. Pin Oak Investment Advisors Inc. boosted its stake in shares of Medtronic by 158.0% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock worth $34,000 after acquiring an additional 226 shares during the period. Spectrum Management Group Inc. boosted its stake in shares of Medtronic by 353.8% in the first quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock worth $38,000 after acquiring an additional 322 shares during the period. Mackey Komara & Dankovich LLC bought a new position in shares of Medtronic in the first quarter worth about $38,000. Finally, Capital Financial Planning LLC bought a new position in shares of Medtronic in the fourth quarter worth about $42,000. Institutional investors own 80.10% of the company’s stock.

MDT stock traded down $0.19 during midday trading on Wednesday, reaching $97.37. 25,025 shares of the company traded hands, compared to its average volume of 5,918,483. 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 0.49, a current ratio of 2.59 and a quick ratio of 2.15. The company has a market cap of $130.24 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.50 and a beta of 0.68.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.07. Medtronic had a return on equity of 14.16% and a net margin of 15.15%. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.12 billion. During the same period in the prior year, the business posted $1.42 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. Equities research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

In other Medtronic news, EVP Geoffrey Martha sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $96.05, for a total transaction of $1,056,550.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Hoedt Rob Ten sold 9,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $91.88, for a total value of $826,920.00. Following the completion of the sale, the executive vice president now owns 58,785 shares in the company, valued at $5,401,165.80. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.

A number of research firms have recently weighed in on MDT. Wells Fargo & Co raised Medtronic from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $100.00 to $110.00 in a research note on Tuesday, June 4th. Royal Bank of Canada dropped their price objective on Medtronic to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $121.00 price objective on shares of Medtronic in a research note on Monday, May 27th. Zacks Investment Research raised Medtronic from a “sell” rating to a “hold” rating in a research note on Monday, May 20th. Finally, Northland Securities reaffirmed a “hold” rating and issued a $84.00 price objective on shares of Medtronic in a research note on Monday, March 18th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $103.95.

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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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