Massachusetts Financial Services Co. MA boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,646,070 shares of the medical technology company’s stock after buying an additional 1,729,715 shares during the period. Medtronic PLC makes up about 2.2% of Massachusetts Financial Services Co. MA’s portfolio, making the stock its 2nd largest position. Massachusetts Financial Services Co. MA owned about 4.28% of Medtronic PLC worth $4,724,526,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Israel Discount Bank of New York bought a new stake in shares of Medtronic PLC during the first quarter valued at $117,000. Birch Hill Investment Advisors LLC bought a new stake in shares of Medtronic PLC during the first quarter valued at $120,000. Baystate Wealth Management LLC increased its stake in shares of Medtronic PLC by 40.9% in the first quarter. Baystate Wealth Management LLC now owns 1,959 shares of the medical technology company’s stock valued at $157,000 after buying an additional 569 shares in the last quarter. North Star Investment Management Corp. increased its stake in shares of 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 in the last quarter. Finally, Hudock Capital Group LLC increased its stake in shares of Medtronic PLC by 0.6% in the first quarter. Hudock Capital Group LLC now owns 2,184 shares of the medical technology company’s stock valued at $175,000 after buying an additional 12 shares in the last quarter. 83.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Medtronic PLC (NYSE:MDT) traded down 0.23% on Friday, reaching $79.06. 4,231,172 shares of the company were exchanged. The stock has a 50 day moving average of $84.48 and a 200-day moving average of $83.39. The company has a market capitalization of $107.67 billion, a P/E ratio of 26.61 and a beta of 1.02. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The company had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. On average, analysts predict that Medtronic PLC will post $4.77 EPS for the current fiscal year.

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Several equities research analysts have weighed in on the company. UBS AG reaffirmed a “buy” rating and set a $95.00 price target (up from $94.00) on shares of Medtronic PLC in a research report on Tuesday, May 30th. BidaskClub raised Medtronic PLC from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $92.00 price target on shares of Medtronic PLC in a research report on Tuesday, August 22nd. Zacks Investment Research downgraded Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $90.00 price target on shares of Medtronic PLC in a research report on Monday, August 21st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $88.78.

In other news, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard H. Anderson acquired 5,600 shares of the stock in a transaction dated Wednesday, June 21st. The stock was acquired at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the purchase, the director now directly owns 71,910 shares in the company, valued at $6,392,799. The disclosure for this purchase can be found here. Insiders own 0.25% of the company’s stock.

Medtronic PLC Company Profile

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.

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

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