Caprock Group LLC Has $3.85 Million Stake in Medtronic plc (NYSE:MDT)

Caprock Group LLC raised its stake in Medtronic plc (NYSE:MDT - Free Report) by 24.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,404 shares of the medical technology company's stock after purchasing an additional 8,364 shares during the period. Caprock Group LLC's holdings in Medtronic were worth $3,847,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the third quarter worth $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic during the third quarter worth about $27,000. Lynx Investment Advisory acquired a new position in Medtronic during the second quarter worth approximately $28,000. Gleason Group Inc. purchased a new position in shares of Medtronic in the 2nd quarter worth about $42,000. Finally, Opal Wealth Advisors LLC purchased a new position in Medtronic in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Performance

Shares of MDT traded down $0.89 during trading hours on Wednesday, reaching $84.11. 7,278,674 shares of the company's stock traded hands, compared to its average volume of 6,274,537. The firm has a market capitalization of $107.87 billion, a price-to-earnings ratio of 28.33, a P/E/G ratio of 2.50 and a beta of 0.84. The business's fifty day simple moving average is $89.30 and its two-hundred day simple moving average is $84.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61.

Medtronic (NYSE:MDT - Get Free Report) last released its 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. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business'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 earned $1.25 EPS. Analysts predict that Medtronic plc will post 5.44 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on MDT. Daiwa America raised shares of Medtronic to a "strong-buy" rating in a research report on Friday, August 23rd. Evercore ISI increased their target price on Medtronic from $100.00 to $104.00 and gave the company an "outperform" rating in a research note on Tuesday, October 1st. Citigroup upped their price target on Medtronic from $85.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, October 1st. Royal Bank of Canada upgraded shares of 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 research note on Thursday, October 10th. Finally, Stifel Nicolaus raised their price target on shares of Medtronic from $85.00 to $87.00 and gave the company a "hold" rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average 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.