Medtronic PLC (MDT) Stake Boosted by BB&T Corp

BB&T Corp boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 39.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,220 shares of the medical technology company’s stock after buying an additional 18,419 shares during the period. BB&T Corp’s holdings in Medtronic PLC were worth $5,254,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. North Star Investment Management Corp. raised its position in Medtronic PLC by 4.4% in the first quarter. North Star Investment Management Corp. now owns 1,973 shares of the medical technology company’s stock valued at $159,000 after buying an additional 83 shares during the period. Bridge Creek Capital Management LLC increased its position in shares of Medtronic PLC by 5.4% in the first quarter. Bridge Creek Capital Management LLC now owns 35,736 shares of the medical technology company’s stock worth $2,879,000 after buying an additional 1,845 shares during the last quarter. LaFleur & Godfrey LLC bought a new position in shares of Medtronic PLC during the first quarter worth about $822,000. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Medtronic PLC by 2.9% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 288,171 shares of the medical technology company’s stock worth $23,215,000 after buying an additional 8,079 shares during the last quarter. Finally, Capital Insight Partners LLC bought a new position in shares of Medtronic PLC during the first quarter worth about $1,627,000. Institutional investors own 82.48% of the company’s stock.

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

Medtronic PLC (MDT) traded up 1.03% during midday trading on Monday, reaching $88.99. The company’s stock had a trading volume of 3,806,584 shares. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.27. The stock’s 50-day moving average price is $84.84 and its 200-day moving average price is $79.22. The firm has a market capitalization of $121.83 billion, a price-to-earnings ratio of 30.79 and a beta of 1.04.

Medtronic PLC (NYSE:MDT) last released its earnings results on Thursday, May 25th. The medical technology company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The firm had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.86 billion. During the same quarter in the previous year, the business earned $1.27 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts predict that Medtronic PLC will post $4.95 EPS for the current year.

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MDT has been the subject of several research reports. Evercore ISI boosted their price target on Medtronic PLC from $88.00 to $88.50 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. Royal Bank Of Canada restated a “buy” rating and issued a $85.00 target price on shares of Medtronic PLC in a report on Tuesday, April 18th. Needham & Company LLC restated a “buy” rating and issued a $91.00 target price on shares of Medtronic PLC in a report on Monday, March 27th. Goldman Sachs Group, Inc. (The) began coverage on Medtronic PLC in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $87.00 price target on the stock. Finally, Vetr lowered Medtronic PLC from a “hold” rating to a “sell” rating and set a $78.50 target price on the stock. in a research note on Wednesday, March 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $88.88.

About Medtronic PLC

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.

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