Alpha DNA Investment Management LLC Cuts Holdings in Medtronic plc (NYSE:MDT)

Alpha DNA Investment Management LLC lowered its position in Medtronic plc (NYSE:MDT - Free Report) by 42.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,781 shares of the medical technology company's stock after selling 9,504 shares during the period. Alpha DNA Investment Management LLC's holdings in Medtronic were worth $1,151,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new stake in Medtronic during the third quarter worth $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic in the third quarter valued at $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the third quarter valued at $27,000. Lynx Investment Advisory bought a new stake in shares of Medtronic in the second quarter valued at $28,000. Finally, Gleason Group Inc. bought a new stake in shares of Medtronic in the second quarter valued at $42,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MDT. Citigroup boosted their price objective on Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, October 1st. Robert W. Baird cut their price objective on Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a report on Wednesday. Truist Financial boosted their target price on Medtronic from $90.00 to $93.00 and gave the company a "hold" rating in a research note on Monday, October 14th. Piper Sandler boosted their target price on Medtronic from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, August 21st. Finally, Barclays upped their price target on Medtronic from $104.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $95.00.

Medtronic Stock Up 1.7 %

Shares of Medtronic stock traded up $1.47 during midday trading on Friday, hitting $86.21. The company had a trading volume of 6,532,130 shares, compared to its average volume of 6,715,911. The company has a 50 day moving average of $88.99 and a 200 day moving average of $84.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.84. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The stock has a market capitalization of $110.56 billion, a P/E ratio of 26.36, a P/E/G ratio of 2.40 and a beta of 0.84.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results 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 for 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 revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the business posted $1.25 EPS. On average, equities analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal 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.