Insider Selling: Medtronic PLC (NYSE:MDT) EVP Sells 52,664 Shares of Stock

Medtronic PLC (NYSE:MDT) EVP Hooman Hakami sold 52,664 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $97.49, for a total transaction of $5,134,213.36. Following the sale, the executive vice president now directly owns 95,337 shares of the company’s stock, valued at approximately $9,294,404.13. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of MDT stock remained flat at $$97.50 during trading hours on Friday. 2,391,258 shares of the stock traded hands, compared to its average volume of 5,854,248. The firm has a market cap of $130.69 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 2.51 and a beta of 0.68. Medtronic PLC has a one year low of $81.66 and a one year high of $100.15. The company has a current ratio of 2.59, a quick ratio of 2.15 and a debt-to-equity ratio of 0.49.

Medtronic (NYSE:MDT) last issued its earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.12 billion. During the same period last year, the business earned $1.42 EPS. Medtronic’s quarterly revenue was up .0% compared to the same quarter last year. As a group, equities analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc increased its position in shares of Medtronic by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 109,447,687 shares of the medical technology company’s stock valued at $10,766,369,000 after purchasing an additional 1,199,118 shares during the last quarter. BlackRock Inc. increased its position in shares of Medtronic by 7.9% during the 1st quarter. BlackRock Inc. now owns 106,778,084 shares of the medical technology company’s stock valued at $9,725,349,000 after purchasing an additional 7,856,946 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Medtronic by 21.6% during the 1st quarter. Lazard Asset Management LLC now owns 27,824,976 shares of the medical technology company’s stock valued at $2,534,296,000 after purchasing an additional 4,935,080 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Medtronic by 5.0% during the 1st quarter. Geode Capital Management LLC now owns 17,528,513 shares of the medical technology company’s stock valued at $1,593,828,000 after purchasing an additional 838,306 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Medtronic by 1.3% during the 4th quarter. Bank of New York Mellon Corp now owns 17,225,948 shares of the medical technology company’s stock valued at $1,566,873,000 after purchasing an additional 213,593 shares during the last quarter. Institutional investors own 80.10% of the company’s stock.

A number of analysts have weighed in on MDT shares. Oppenheimer set a $104.00 target price on shares of Medtronic and gave the company a “buy” rating in a research report on Wednesday, February 20th. Wells Fargo & Co decreased their target price on shares of Medtronic from $101.00 to $100.00 and set a “market perform” rating for the company in a research report on Thursday, April 4th. Citigroup increased their target price on shares of Medtronic from $95.00 to $101.00 and gave the company a “neutral” rating in a research report on Monday, February 25th. Barclays reissued a “buy” rating and set a $104.00 target price on shares of Medtronic in a research report on Wednesday, February 20th. Finally, Northland Securities reissued a “hold” rating and set a $84.00 target price on shares of Medtronic in a research report on Monday, March 18th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $103.95.

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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.

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

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