Medtronic plc (NYSE:MDT) Shares Sold by Bank of Hawaii

Bank of Hawaii reduced its holdings in Medtronic plc (NYSE:MDT - Free Report) by 74.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,974 shares of the medical technology company's stock after selling 8,535 shares during the period. Bank of Hawaii's holdings in Medtronic were worth $268,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Fisher Asset Management LLC boosted its holdings in shares of Medtronic by 11.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company's stock valued at $530,612,000 after acquiring an additional 609,391 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Medtronic by 5.7% during the third quarter. Daiwa Securities Group Inc. now owns 160,710 shares of the medical technology company's stock worth $14,469,000 after buying an additional 8,682 shares in the last quarter. Marco Investment Management LLC boosted its holdings in Medtronic by 0.5% during the third quarter. Marco Investment Management LLC now owns 98,241 shares of the medical technology company's stock worth $8,845,000 after buying an additional 510 shares in the last quarter. Hartford Funds Management Co LLC boosted its holdings in Medtronic by 3.9% during the third quarter. Hartford Funds Management Co LLC now owns 8,082 shares of the medical technology company's stock worth $728,000 after buying an additional 305 shares in the last quarter. Finally, Cahill Financial Advisors Inc. boosted its holdings in Medtronic by 66.5% during the third quarter. Cahill Financial Advisors Inc. now owns 5,480 shares of the medical technology company's stock worth $493,000 after buying an additional 2,189 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MDT. Robert W. Baird lowered their price target on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Wednesday, November 20th. Truist Financial increased their price target on shares of Medtronic from $90.00 to $93.00 and gave the stock a "hold" rating in a report on Monday, October 14th. Stifel Nicolaus increased their price target on shares of Medtronic from $85.00 to $87.00 and gave the stock a "hold" rating in a report on Wednesday, August 21st. Royal Bank of Canada raised shares of Medtronic from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Medtronic has a consensus rating of "Hold" and a consensus target price of $95.27.

Medtronic Price Performance

Shares of NYSE MDT traded down $0.08 during mid-day trading on Tuesday, reaching $85.67. The company's stock had a trading volume of 5,698,750 shares, compared to its average volume of 6,287,747. The stock has a 50-day moving average of $88.91 and a two-hundred day moving average of $84.93. The stock has a market capitalization of $109.87 billion, a P/E ratio of 26.03, a P/E/G ratio of 2.44 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. 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 released its quarterly earnings data 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 firm had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $8.27 billion. During the same period last year, the business earned $1.25 earnings per share. Medtronic's revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

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.