Hancock Whitney Corp Decreases Stake in Medtronic plc (NYSE:MDT)

Hancock Whitney Corp cut its holdings in shares of Medtronic plc (NYSE:MDT) by 5.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,407 shares of the medical technology company’s stock after selling 1,871 shares during the quarter. Hancock Whitney Corp’s holdings in Medtronic were worth $3,008,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Truvestments Capital LLC lifted its stake in shares of Medtronic by 20.5% during the 3rd quarter. Truvestments Capital LLC now owns 31,527 shares of the medical technology company’s stock valued at $2,838,000 after buying an additional 5,364 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Medtronic by 6.9% during the third quarter. Loomis Sayles & Co. L P now owns 2,182 shares of the medical technology company’s stock worth $196,000 after acquiring an additional 141 shares in the last quarter. DRW Securities LLC lifted its position in shares of Medtronic by 31.7% during the third quarter. DRW Securities LLC now owns 6,288 shares of the medical technology company’s stock worth $566,000 after acquiring an additional 1,512 shares in the last quarter. Independent Advisor Alliance boosted its holdings in shares of Medtronic by 43.5% in the third quarter. Independent Advisor Alliance now owns 43,832 shares of the medical technology company’s stock worth $3,946,000 after acquiring an additional 13,289 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of Medtronic by 11.5% in the third quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company’s stock valued at $530,612,000 after purchasing an additional 609,391 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of a number of recent research reports. Piper Sandler increased their price objective on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Evercore ISI boosted their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Robert W. Baird decreased their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Finally, UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and raised their price target for the company from $76.00 to $90.00 in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Down 0.5 %

NYSE MDT opened at $85.75 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The stock’s 50-day simple moving average is $88.91 and its two-hundred day simple moving average is $84.93. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The company has a market capitalization of $109.97 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 2.44 and a beta of 0.84.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company 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 revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $1.25 EPS. Research analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

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.