Latest Stocks: APG Asset Management N.V. Has $150.39 Million Stake in Medtronic plc. (MDT)

Latest Stocks: APG Asset Management N.V. Has $150.39 Million Stake in Medtronic plc. (MDT)

APG Asset Management N.V. reduced its position in shares of Medtronic plc. (NYSE:MDT) by 23.7% during the first quarter, Holdings Channel reports. The institutional investor owned 1,866,838 shares of the medical technology company’s stock after selling 578,285 shares during the period. APG Asset Management N.V.’s holdings in Medtronic plc. were worth $150,392,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dodge & Cox bought a new stake in Medtronic plc. during the fourth quarter worth $761,351,000. Norges Bank acquired a new position in Medtronic plc. during the fourth quarter valued at approximately $757,324,000. Franklin Resources Inc. raised its position in Medtronic plc. by 11.0% in the fourth quarter. Franklin Resources Inc. now owns 37,236,096 shares of the medical technology company’s stock valued at $2,652,348,000 after buying an additional 3,694,537 shares during the period. Russell Investments Group Ltd. acquired a new position in Medtronic plc. during the fourth quarter valued at approximately $214,311,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Medtronic plc. during the fourth quarter valued at approximately $202,568,000. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Medtronic plc. (NYSE MDT) opened at 85.95 on Tuesday. The firm has a market cap of $117.67 billion, a PE ratio of 29.74 and a beta of 0.97. Medtronic plc. has a 52 week low of $69.35 and a 52 week high of $89.27. The stock has a 50 day moving average of $83.34 and a 200-day moving average of $78.59.

Medtronic plc. (NYSE:MDT) last issued its earnings results on Thursday, May 25th. The medical technology company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The firm had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.86 billion. Medtronic plc. had a return on equity of 12.36% and a net margin of 14.63%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.27 earnings per share. Analysts expect that Medtronic plc. will post $4.95 earnings per share for the current year.

Several equities analysts have issued reports on MDT shares. Needham & Company LLC restated a “buy” rating and issued a $84.00 price objective on shares of Medtronic plc. in a research note on Monday, February 6th. Wedbush restated a “neutral” rating and issued a $85.00 price objective on shares of Medtronic plc. in a research report on Wednesday, February 22nd. Jefferies Group LLC restated a “buy” rating and issued a $88.00 price objective on shares of Medtronic plc. in a research report on Friday, February 17th. Evercore ISI raised their price objective on shares of Medtronic plc. from $78.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, February 21st. Finally, Vetr downgraded shares of Medtronic plc. from a “buy” rating to a “hold” rating and set a $80.67 price objective for the company. in a research report on Thursday, February 16th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $89.50.

In related news, EVP Hoedt Rob Ten sold 50,757 shares of the company’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $81.58, for a total value of $4,140,756.06. Following the sale, the executive vice president now directly owns 59,392 shares in the company, valued at $4,845,199.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Omar Ishrak sold 95,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $82.82, for a total value of $7,867,900.00. Following the completion of the sale, the chief executive officer now owns 645,616 shares in the company, valued at $53,469,917.12. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock. About Medtronic plc.

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