Cobblestone Capital Advisors LLC NY Lowers Holdings in Medtronic plc (NYSE:MDT)

Cobblestone Capital Advisors LLC NY decreased its position in shares of Medtronic plc (NYSE:MDT) by 21.4% during the third quarter, Holdings Channel.com reports. The firm owned 3,289 shares of the medical technology company’s stock after selling 893 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Medtronic were worth $296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its position in shares of Medtronic by 3.3% in the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock valued at $772,727,000 after buying an additional 275,870 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Medtronic by 436.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock valued at $661,125,000 after buying an additional 5,975,110 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Medtronic by 7.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock worth $560,494,000 after buying an additional 515,751 shares during the last quarter. Raymond James & Associates increased its stake in Medtronic by 2.3% during the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock worth $575,460,000 after buying an additional 145,504 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Medtronic by 11.5% during 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 acquiring an additional 609,391 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MDT. Piper Sandler lifted their price target on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Barclays lifted their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and increased their target price for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Citigroup boosted their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus price target of $95.27.

Medtronic Price Performance

MDT stock opened at $86.54 on Monday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. 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 has a market cap of $110.97 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.45 and a beta of 0.84. The business has a fifty day moving average of $88.69 and a two-hundred day moving average of $85.00.

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

Medtronic 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.