Medtronic plc (NYSE:MDT) Stock Position Raised by Managed Asset Portfolios LLC

Managed Asset Portfolios LLC grew its stake in Medtronic plc (NYSE:MDT) by 23.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 292,378 shares of the medical technology company’s stock after purchasing an additional 55,517 shares during the quarter. Medtronic makes up approximately 3.7% of Managed Asset Portfolios LLC’s holdings, making the stock its 10th biggest holding. Managed Asset Portfolios LLC’s holdings in Medtronic were worth $26,323,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MDT. Sompo Asset Management Co. Ltd. lifted its position in shares of Medtronic by 3.4% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 115,710 shares of the medical technology company’s stock worth $10,417,000 after buying an additional 3,820 shares during the last quarter. Okabena Investment Services Inc. grew its holdings in Medtronic by 13.8% in the 3rd quarter. Okabena Investment Services Inc. now owns 3,696 shares of the medical technology company’s stock worth $333,000 after buying an additional 448 shares in the last quarter. Palisade Asset Management LLC increased its holdings in shares of Medtronic by 1.9% during the third quarter. Palisade Asset Management LLC now owns 56,340 shares of the medical technology company’s stock valued at $5,072,000 after purchasing an additional 1,076 shares during the period. Kingsview Wealth Management LLC increased its stake in Medtronic by 11.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 20,949 shares of the medical technology company’s stock valued at $1,886,000 after buying an additional 2,197 shares during the period. Finally, Cerity Partners LLC raised its holdings in Medtronic by 43.1% during the third quarter. Cerity Partners LLC now owns 243,308 shares of the medical technology company’s stock worth $21,910,000 after purchasing an additional 73,334 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE:MDT opened at $86.21 on Friday. The company has a fifty day moving average price of $88.99 and a 200 day moving average price of $84.89. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.61. The stock has a market cap of $110.56 billion, a P/E ratio of 26.36, a PEG ratio of 2.40 and a beta of 0.84.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Truist Financial upped their price target on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a report on Monday, October 14th. Evercore ISI lifted their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and increased their target price for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. JPMorgan Chase & Co. cut their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Finally, Robert W. Baird reduced their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $95.00.

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.