Creative Planning Has $12.93 Million Stake in Medtronic PLC (NYSE:MDT) – Mitchell Messenger

Creative Planning cut its position in Medtronic PLC (NYSE:MDT) by 7.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,998 shares of the medical technology companys stock after selling 9,606 shares during the quarter. Creative Plannings holdings in Medtronic were worth $12,926,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Private Ocean LLC boosted its position in Medtronic by 188.5% during the third quarter. Private Ocean LLC now owns 225 shares of the medical technology companys stock worth $25,000 after purchasing an additional 147 shares during the period. Krane Funds Advisors LLC bought a new position in Medtronic during the second quarter worth $25,000. River & Mercantile Asset Management LLP bought a new position in Medtronic during the second quarter worth $26,000. Lenox Wealth Advisors LLC boosted its position in Medtronic by 393.3% during the third quarter. Lenox Wealth Advisors LLC now owns 296 shares of the medical technology companys stock worth $32,000 after purchasing an additional 236 shares during the period. Finally, Redhawk Wealth Advisors Inc. bought a new position in Medtronic during the second quarter worth $34,000. 80.61% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Robert John White sold 52,165 shares of the businesss stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $109.33, for a total value of $5,703,199.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael J. Coyle sold 2,102 shares of the businesss stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $109.77, for a total value of $230,736.54. Following the completion of the transaction, the executive vice president now directly owns 189,162 shares of the companys stock, valued at approximately $20,764,312.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,569 shares of company stock valued at $17,130,869. 0.28% of the stock is owned by insiders.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.31 earnings per share for the quarter, topping the Zacks consensus estimate of $1.28 by $0.03. The company had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.66 billion. Medtronic had a return on equity of 14.52% and a net margin of 15.11%. The companys revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 earnings per share. On average, equities research analysts predict that Medtronic PLC will post 5.6 earnings per share for the current fiscal year.

A number of research firms have commented on MDT. Cowen reaffirmed an outperform rating and set a $111.00 price objective (up from $99.00) on shares of Medtronic in a research report on Wednesday, August 14th. Needham & Company LLC reaffirmed a buy rating and set a $133.00 price objective on shares of Medtronic in a research report on Wednesday, August 28th. Morgan Stanley lifted their price objective on shares of Medtronic from $105.00 to $111.00 and gave the stock an equal weight rating in a research report on Wednesday, August 21st. Stifel Nicolaus lifted their price objective on shares of Medtronic from $95.00 to $112.00 and gave the stock a hold rating in a research report on Wednesday, August 21st. Finally, Argus lifted their price objective on shares of Medtronic to $135.00 and gave the stock a buy rating in a research report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the companys stock. The company currently has a consensus rating of Buy and a consensus price target of $117.35.

Medtronic 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.

Creative Planning Has $12.93 Million Stake in Medtronic PLC (NYSE:MDT) – Mitchell Messenger

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