HighTower Advisors LLC Has $131.04 Million Stock Holdings in Medtronic plc (NYSE:MDT)

HighTower Advisors LLC boosted its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 9.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,453,630 shares of the medical technology company's stock after buying an additional 123,475 shares during the period. HighTower Advisors LLC owned approximately 0.11% of Medtronic worth $131,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Clear Harbor Asset Management LLC lifted its position in shares of Medtronic by 1.2% in the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company's stock worth $861,000 after purchasing an additional 111 shares in the last quarter. First PREMIER Bank boosted its stake in shares of Medtronic by 1.8% during the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company's stock worth $577,000 after acquiring an additional 116 shares in the last quarter. First City Capital Management Inc. lifted its position in Medtronic by 2.9% during the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company's stock worth $371,000 after acquiring an additional 116 shares during the last quarter. Hardy Reed LLC increased its stake in shares of Medtronic by 4.4% in the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company's stock worth $247,000 after purchasing an additional 116 shares during the period. Finally, Precision Wealth Strategies LLC raised its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MDT. Barclays increased their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Citigroup raised their target price on Medtronic from $85.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 1st. UBS Group upgraded Medtronic from a "sell" rating to a "neutral" rating and upped their price target for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Royal Bank of Canada raised Medtronic from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Piper Sandler upped their target price on shares of Medtronic from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $95.27.

Medtronic Stock Down 1.0 %

Medtronic stock traded down $0.83 during midday trading on Tuesday, reaching $85.71. The stock had a trading volume of 4,979,051 shares, compared to its average volume of 6,270,512. The firm's fifty day simple moving average is $88.69 and its 200-day simple moving average is $85.00. 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 stock has a market capitalization of $109.91 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 2.45 and a beta of 0.82. 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 the consensus estimate 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 company's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 EPS. As a group, analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal 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.