5,286 Shares in Medtronic plc (NYSE:MDT) Bought by Ascent Group LLC

Ascent Group LLC acquired a new stake in Medtronic plc (NYSE:MDT) during the third quarter, HoldingsChannel reports. The firm acquired 5,286 shares of the medical technology company’s stock, valued at approximately $476,000.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in Medtronic in the third quarter valued at $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic during the third quarter worth about $27,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic during the third quarter worth about $27,000. J. Stern & Co. LLP acquired a new position in shares of Medtronic during the third quarter worth about $30,000. Finally, Gleason Group Inc. acquired a new position in shares of Medtronic during the second quarter worth about $42,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of MDT opened at $85.31 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The company has a market capitalization of $109.39 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 2.45 and a beta of 0.82. The company’s 50 day simple moving average is $88.46 and its 200 day simple moving average is $85.01. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, sell-side analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MDT shares. Truist Financial boosted their price objective on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Barclays boosted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Wells Fargo & Company decreased their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, Sanford C. Bernstein boosted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $95.27.

Medtronic Company 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.