Chevy Chase Trust Holdings LLC lessened its holdings in Medtronic plc (NYSE:MDT - Free Report) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 687,992 shares of the medical technology company's stock after selling 37,418 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Medtronic worth $61,940,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MDT. Clear Harbor Asset Management LLC boosted its holdings in Medtronic by 1.2% during the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company's stock worth $861,000 after buying an additional 111 shares in the last quarter. First PREMIER Bank lifted its stake in shares of Medtronic by 1.8% in the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company's stock worth $577,000 after buying an additional 116 shares during the last quarter. First City Capital Management Inc. boosted its position in shares of Medtronic by 2.9% in the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company's stock valued at $371,000 after acquiring an additional 116 shares during the period. Hardy Reed LLC grew its position in Medtronic by 4.4% during the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company's stock worth $247,000 after buying an additional 116 shares in the last quarter. Finally, Precision Wealth Strategies LLC increased its holdings in Medtronic by 3.3% in the 3rd quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company's stock valued at $337,000 after buying an additional 118 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.
Medtronic Price Performance
Medtronic stock remained flat at $86.54 during mid-day trading on Monday. The company's stock had a trading volume of 7,058,600 shares, compared to its average volume of 6,276,077. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The firm has a market cap of $110.97 billion, a P/E ratio of 26.46, a PEG ratio of 2.45 and a beta of 0.84. The company has a 50 day moving average price of $88.69 and a 200 day moving average price of $85.00.
Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the company posted $1.25 EPS. The business's quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts have commented on the company. Robert W. Baird reduced their price objective on Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 20th. Wells Fargo & Company cut their price objective on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 20th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Monday, November 18th. Sanford C. Bernstein raised their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Finally, Truist Financial lifted their price target on Medtronic from $90.00 to $93.00 and gave the company a "hold" rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $95.27.
Read Our Latest Stock Analysis on Medtronic
Medtronic Profile
(
Free Report)
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.
Featured Articles
Before you consider Medtronic, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Medtronic wasn't on the list.
While Medtronic currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
