AMG National Trust Bank Cuts Stock Holdings in Medtronic plc (NYSE:MDT)

AMG National Trust Bank decreased its stake in Medtronic plc (NYSE:MDT - Free Report) by 94.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,495 shares of the medical technology company's stock after selling 42,431 shares during the period. AMG National Trust Bank's holdings in Medtronic were worth $225,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Olstein Capital Management L.P. grew its holdings in shares of Medtronic by 19.2% in the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company's stock worth $7,833,000 after purchasing an additional 14,000 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Medtronic during the second quarter valued at $25,643,000. Ferguson Wellman Capital Management Inc. bought a new stake in Medtronic during the 3rd quarter valued at about $9,486,000. Harvest Portfolios Group Inc. raised its holdings in Medtronic by 6.5% in the third quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company's stock worth $62,042,000 after buying an additional 42,112 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Medtronic by 6.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 368,682 shares of the medical technology company's stock worth $29,019,000 after buying an additional 21,995 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Barclays upped their price target on Medtronic from $104.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Monday. Robert W. Baird cut their price target on Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research note on Wednesday. Truist Financial increased their price objective on shares of Medtronic from $90.00 to $93.00 and gave the stock a "hold" rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. cut their target price on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Medtronic currently has a consensus rating of "Hold" and a consensus price target of $95.19.

Medtronic Stock Performance

NYSE MDT opened at $84.11 on Thursday. The business's 50 day moving average price is $89.17 and its 200-day moving average price is $84.84. The company has a market cap of $107.87 billion, a P/E ratio of 25.72, a P/E/G ratio of 2.42 and a beta of 0.84. 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 fifty-two week low of $75.96 and a fifty-two week high of $92.68.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 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 analysts' expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. Sell-side analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

About Medtronic

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.