GSA Capital Partners LLP Trims Holdings in Medtronic plc (NYSE:MDT)

GSA Capital Partners LLP trimmed its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 70.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,064 shares of the medical technology company's stock after selling 11,995 shares during the quarter. GSA Capital Partners LLP's holdings in Medtronic were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Olstein Capital Management L.P. lifted its stake in shares of Medtronic by 19.2% during the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company's stock valued at $7,833,000 after acquiring an additional 14,000 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Medtronic in the 2nd quarter valued at $25,643,000. Harvest Portfolios Group Inc. grew its stake 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 valued at $62,042,000 after acquiring an additional 42,112 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Medtronic by 6.3% during 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 purchasing an additional 21,995 shares during the period. Finally, Arkadios Wealth Advisors lifted its holdings in shares of Medtronic by 22.6% during the 3rd quarter. Arkadios Wealth Advisors now owns 60,725 shares of the medical technology company's stock valued at $5,467,000 after purchasing an additional 11,178 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Price Performance

Shares of NYSE MDT opened at $84.11 on Thursday. The company has a market capitalization of $107.87 billion, a PE ratio of 25.72, a PEG ratio of 2.42 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The stock's 50 day moving average price is $89.17 and its 200-day moving average price is $84.84. Medtronic plc has a twelve month low of $75.96 and a twelve month 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the business posted $1.25 EPS. Medtronic's quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MDT shares. Sanford C. Bernstein increased their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Wednesday. Citigroup boosted their price target on Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 1st. Truist Financial lifted their target price on Medtronic from $90.00 to $93.00 and gave the company a "hold" rating in a research report on Monday, October 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Monday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Medtronic currently has a consensus rating of "Hold" and a consensus price target of $95.19.

Medtronic Company 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.