Captrust Financial Advisors Sells 13,977 Shares of Medtronic plc (NYSE:MDT)

Captrust Financial Advisors trimmed its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 12.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,390 shares of the medical technology company's stock after selling 13,977 shares during the period. Captrust Financial Advisors' holdings in Medtronic were worth $9,128,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Vinva Investment Management Ltd lifted its position in shares of Medtronic by 11.4% in the third quarter. Vinva Investment Management Ltd now owns 66,203 shares of the medical technology company's stock worth $5,913,000 after purchasing an additional 6,757 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Medtronic by 436.7% during 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 during the period. Noesis Capital Mangement Corp increased its stake in shares of Medtronic by 2.5% in the third quarter. Noesis Capital Mangement Corp now owns 101,266 shares of the medical technology company's stock worth $9,117,000 after acquiring an additional 2,482 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Medtronic by 244.8% during the third quarter. Public Sector Pension Investment Board now owns 175,914 shares of the medical technology company's stock worth $15,838,000 after acquiring an additional 124,900 shares in the last quarter. Finally, Fiduciary Trust Co boosted its position in Medtronic by 0.4% during the third quarter. Fiduciary Trust Co now owns 35,375 shares of the medical technology company's stock valued at $3,185,000 after purchasing an additional 142 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

NYSE:MDT remained flat at $86.54 during mid-day trading on Monday. The company had a trading volume of 7,058,600 shares, compared to its average volume of 6,276,077. The company has a market capitalization 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 firm's 50 day moving average price is $88.69 and its 200 day moving average price is $85.00. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68.

Medtronic (NYSE:MDT - Get Free Report) last issued 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. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the company earned $1.25 earnings per share. The company's quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MDT shares. 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. Barclays raised their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. Robert W. Baird reduced their target price on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research note on Wednesday, November 20th. Royal Bank of Canada upgraded shares of Medtronic from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, Truist Financial lifted their price objective on shares of Medtronic from $90.00 to $93.00 and gave the company a "hold" rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $95.27.

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.