American International Group Inc. raised its holdings in Medtronic PLC (NYSE:MDT) by 6.8% during the third quarter, HoldingsChannel reports. The firm owned 456,020 shares of the medical technology company’s stock after buying an additional 28,858 shares during the period. American International Group Inc.’s holdings in Medtronic were worth $44,859,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MDT. Ballew Advisors Inc bought a new stake in shares of Medtronic in the 2nd quarter valued at approximately $100,000. Polaris Greystone Financial Group LLC increased its holdings in shares of Medtronic by 255.1% in the 3rd quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock valued at $130,000 after acquiring an additional 949 shares during the last quarter. Fort L.P. bought a new stake in shares of Medtronic in the 2nd quarter valued at approximately $121,000. Trustcore Financial Services LLC grew its stake in Medtronic by 97.3% during the 2nd quarter. Trustcore Financial Services LLC now owns 1,760 shares of the medical technology company’s stock worth $151,000 after buying an additional 868 shares during the last quarter. Finally, Hartford Financial Management Inc. bought a new position in Medtronic during the 2nd quarter worth $164,000. 79.56% of the stock is currently owned by institutional investors.

In other news, EVP Geoffrey Martha sold 49,799 shares of the stock in a transaction on Monday, September 24th. The stock was sold at an average price of $97.93, for a total value of $4,876,816.07. Following the completion of the transaction, the executive vice president now owns 87,872 shares of the company’s stock, valued at $8,605,304.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Hooman Hakami sold 26,159 shares of the stock in a transaction on Friday, August 31st. The stock was sold at an average price of $96.29, for a total value of $2,518,850.11. Following the completion of the transaction, the executive vice president now directly owns 63,046 shares of the company’s stock, valued at approximately $6,070,699.34. The disclosure for this sale can be found here. In the last three months, insiders sold 123,134 shares of company stock valued at $11,918,901. Company insiders own 0.28% of the company’s stock.

MDT has been the subject of a number of recent research reports. Morgan Stanley upped their price objective on Medtronic from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 22nd. Zacks Investment Research downgraded Medtronic from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Needham & Company LLC upgraded Medtronic from a “buy” rating to a “strong-buy” rating and upped their price objective for the stock from $103.00 to $119.00 in a research note on Monday, August 13th. Argus upped their price objective on Medtronic from $95.00 to $108.00 and gave the stock a “buy” rating in a research note on Monday, August 27th. Finally, Wells Fargo & Co upped their price objective on Medtronic from $95.00 to $101.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 22nd. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Medtronic presently has a consensus rating of “Buy” and an average target price of $102.58.

NYSE:MDT opened at $92.16 on Wednesday. Medtronic PLC has a 1 year low of $76.41 and a 1 year high of $100.15. The firm has a market capitalization of $126.54 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 2.49 and a beta of 0.94. The company has a quick ratio of 2.06, a current ratio of 2.46 and a debt-to-equity ratio of 0.47.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 20th. The medical technology company reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.07. Medtronic had a return on equity of 12.98% and a net margin of 10.56%. The company had revenue of $7.48 billion during the quarter, compared to analysts’ expectations of $7.35 billion. During the same quarter in the prior year, the business posted $1.07 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that Medtronic PLC will post 5.12 earnings per share for the current year.

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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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