Bluestein R H & Co. Sells 15,618 Shares of Medtronic plc. (MDT)
Bluestein R H & Co. reduced its position in shares of Medtronic plc. (NYSE:MDT) by 5.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 249,210 shares of the medical technology company’s stock after selling 15,618 shares during the quarter. Bluestein R H & Co.’s holdings in Medtronic were worth $20,124,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Medtronic by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after purchasing an additional 2,454,380 shares during the last quarter. BlackRock Inc. raised its holdings in Medtronic by 6.4% during the 4th quarter. BlackRock Inc. now owns 94,595,580 shares of the medical technology company’s stock worth $7,638,592,000 after purchasing an additional 5,688,180 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in Medtronic by 1.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 23,853,034 shares of the medical technology company’s stock worth $1,855,050,000 after purchasing an additional 269,814 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Medtronic by 43.8% during the 2nd quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after purchasing an additional 5,991,094 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Medtronic by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 14,191,675 shares of the medical technology company’s stock worth $1,143,549,000 after purchasing an additional 351,256 shares during the last quarter. 79.83% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Richard Kuntz sold 78,526 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the completion of the sale, the vice president now directly owns 149,761 shares of the company’s stock, valued at approximately $12,910,895.81. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Hooman Hakami sold 26,158 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $85.00, for a total value of $2,223,430.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,684 shares of company stock valued at $10,318,276. 0.31% of the stock is owned by company insiders.
Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.01. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. The business had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.20 billion. During the same period in the prior year, the business earned $1.12 EPS. Medtronic’s revenue for the quarter was up 1.2% compared to the same quarter last year. analysts anticipate that Medtronic plc. will post 4.75 earnings per share for the current year.
Several analysts have weighed in on the company. Citigroup reissued a “buy” rating and set a $93.00 price objective (down from $100.00) on shares of Medtronic in a report on Thursday, February 22nd. TheStreet cut Medtronic from a “b” rating to a “c+” rating in a report on Tuesday, February 20th. SunTrust Banks set a $92.00 price target on Medtronic and gave the company a “buy” rating in a research note on Sunday, November 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 14th. Finally, Northland Securities reaffirmed a “hold” rating and issued a $80.00 price target on shares of Medtronic in a research note on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $91.50.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Daily Political and is owned by of Daily Political. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.dailypolitical.com/2018/03/04/bluestein-r-h-co-sells-15618-shares-of-medtronic-plc-mdt.html.
Medtronic Company Profile
Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc. (NYSE:MDT).
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.