Insider Selling: Medtronic PLC (NYSE:MDT) EVP Sells 52,166 Shares of Stock

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Medtronic PLC (NYSE:MDT) EVP Robert John White sold 52,166 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $110.62, for a total transaction of $5,770,602.92. Following the completion of the sale, the executive vice president now owns 77,510 shares of the company’s stock, valued at approximately $8,574,156.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Robert John White also recently made the following trade(s):

  • On Friday, November 1st, Robert John White sold 52,165 shares of Medtronic stock. The shares were sold at an average price of $109.33, for a total value of $5,703,199.45.

NYSE MDT traded up $0.08 during trading hours on Tuesday, reaching $110.99. The company’s stock had a trading volume of 3,576,205 shares, compared to its average volume of 5,077,267. The stock has a market cap of $148.91 billion, a PE ratio of 21.26, a PEG ratio of 2.70 and a beta of 0.60. Medtronic PLC has a fifty-two week low of $81.66 and a fifty-two week high of $114.46. The company’s 50-day moving average is $108.82 and its two-hundred day moving average is $103.36. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.28 and a current ratio of 2.77.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.03. The firm had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.66 billion. Medtronic had a net margin of 15.11% and a return on equity of 14.52%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $1.22 EPS. Equities analysts expect that Medtronic PLC will post 5.6 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC increased its position in Medtronic by 14.8% during the third quarter. Prestige Wealth Management Group LLC now owns 3,133 shares of the medical technology company’s stock worth $340,000 after buying an additional 404 shares in the last quarter. Sandler Capital Management acquired a new position in Medtronic in the 3rd quarter valued at about $6,191,000. Voloridge Investment Management LLC raised its stake in Medtronic by 311.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 155,930 shares of the medical technology company’s stock valued at $16,937,000 after purchasing an additional 118,039 shares during the last quarter. Bank of Hawaii lifted its holdings in Medtronic by 0.5% in the 3rd quarter. Bank of Hawaii now owns 25,143 shares of the medical technology company’s stock valued at $2,731,000 after purchasing an additional 126 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its holdings in Medtronic by 53.2% in the 3rd quarter. IHT Wealth Management LLC now owns 7,917 shares of the medical technology company’s stock valued at $860,000 after purchasing an additional 2,749 shares in the last quarter. Institutional investors and hedge funds own 80.61% of the company’s stock.

A number of brokerages have recently issued reports on MDT. BMO Capital Markets increased their target price on Medtronic from $107.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Stifel Nicolaus lifted their price target on Medtronic from $95.00 to $112.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Morgan Stanley upped their price objective on Medtronic from $105.00 to $111.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 21st. BTIG Research increased their price objective on Medtronic to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $133.00 target price on shares of Medtronic in a report on Wednesday, August 28th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Medtronic currently has a consensus rating of “Buy” and an average price target of $117.35.

Medtronic Company Profile

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.

Further Reading: What is Considered a Good Return on Equity (ROE)?

Insider Buying and Selling by Quarter for Medtronic (NYSE:MDT)

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