10,675,167 Shares in Medtronic plc (NYSE:MDT) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of Medtronic plc (NYSE:MDT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 10,675,167 shares of the medical technology company’s stock, valued at approximately $852,732,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. lifted its holdings in shares of Medtronic by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after buying an additional 115 shares during the period. MONECO Advisors LLC lifted its holdings in shares of Medtronic by 1.8% in the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock valued at $512,000 after buying an additional 115 shares during the period. First City Capital Management Inc. lifted its holdings in shares of Medtronic by 2.9% in the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock valued at $371,000 after buying an additional 116 shares during the period. Hardy Reed LLC lifted its holdings in shares of Medtronic by 4.4% in the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after buying an additional 116 shares during the period. Finally, OLD Second National Bank of Aurora lifted its holdings in shares of Medtronic by 0.3% in the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company’s stock valued at $2,900,000 after buying an additional 121 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Up 1.2 %

Shares of Medtronic stock opened at $94.15 on Thursday. The stock has a 50-day moving average price of $87.82 and a 200 day moving average price of $87.68. The company has a market cap of $120.75 billion, a P/E ratio of 28.62, a P/E/G ratio of 2.22 and a beta of 0.84. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $95.57.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of several research analyst reports. UBS Group upped their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Sanford C. Bernstein upped their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. reduced their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, Wells Fargo & Company reduced their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $96.07.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.