Glenmede Trust Co. NA Buys 90,111 Shares of Medtronic plc (NYSE:MDT)

Glenmede Trust Co. NA grew its stake in Medtronic plc (NYSE:MDT - Free Report) by 31.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 380,554 shares of the medical technology company's stock after purchasing an additional 90,111 shares during the period. Glenmede Trust Co. NA's holdings in Medtronic were worth $34,261,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Fortitude Family Office LLC bought a new position in Medtronic in the third quarter worth $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic during the 3rd quarter worth about $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic during the 3rd quarter valued at about $27,000. Lynx Investment Advisory bought a new stake in Medtronic in the second quarter valued at about $28,000. Finally, J. Stern & Co. LLP acquired a new position in Medtronic in the third quarter worth about $30,000. Institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MDT shares. UBS Group upgraded Medtronic from a "sell" rating to a "neutral" rating and upped their price objective for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Stifel Nicolaus upped their price target on Medtronic from $85.00 to $87.00 and gave the company a "hold" rating in a research report on Wednesday, August 21st. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Monday, November 18th. Piper Sandler boosted their target price on shares of Medtronic from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, August 21st. Finally, Citigroup increased their target price 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $95.27.

Medtronic Trading Up 0.7 %

Shares of NYSE MDT traded up $0.59 during midday trading on Thursday, hitting $86.27. The stock had a trading volume of 5,106,486 shares, compared to its average volume of 6,284,553. The firm has a market cap of $110.64 billion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 2.43 and a beta of 0.84. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company's 50-day simple moving average is $88.75 and its 200 day simple moving average is $84.97.

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 earned $1.25 earnings per share. The company's revenue was up 5.2% on a year-over-year basis. Research analysts anticipate that Medtronic plc will post 5.46 EPS 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.