Mizuho Securities USA LLC Sells 19,214 Shares of Medtronic plc (NYSE:MDT)

Mizuho Securities USA LLC lowered its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 18.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 83,170 shares of the medical technology company's stock after selling 19,214 shares during the period. Mizuho Securities USA LLC's holdings in Medtronic were worth $7,488,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDT. Lake Street Advisors Group LLC bought a new stake in shares of Medtronic during the first quarter worth approximately $498,000. CreativeOne Wealth LLC boosted its stake in shares of Medtronic by 31.3% in the first quarter. CreativeOne Wealth LLC now owns 5,456 shares of the medical technology company's stock valued at $475,000 after buying an additional 1,300 shares during the period. Freestone Capital Holdings LLC boosted its stake in shares of Medtronic by 3.0% in the first quarter. Freestone Capital Holdings LLC now owns 24,350 shares of the medical technology company's stock valued at $2,122,000 after buying an additional 708 shares during the period. Axxcess Wealth Management LLC boosted its stake in shares of Medtronic by 8.7% in the first quarter. Axxcess Wealth Management LLC now owns 27,536 shares of the medical technology company's stock valued at $2,400,000 after buying an additional 2,194 shares during the period. Finally, Envoi LLC bought a new stake in shares of Medtronic in the first quarter valued at approximately $26,145,000. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

NYSE MDT opened at $84.11 on Thursday. The company has a market capitalization of $107.87 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 2.42 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The stock has a fifty day simple moving average of $89.17 and a 200 day simple moving average of $84.84. The company has a quick ratio of 1.61, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

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 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 the consensus estimate of $8.27 billion. During the same period last year, the business posted $1.25 EPS. The business's revenue was up 5.2% compared to the same quarter last year. Sell-side analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Analyst Upgrades and Downgrades

MDT has been the subject of several recent research reports. Truist Financial boosted their price target on Medtronic from $90.00 to $93.00 and gave the company a "hold" rating in a research note on Monday, October 14th. Oppenheimer boosted their price target on Medtronic from $92.00 to $94.00 and gave the company a "market perform" rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research note on Friday, November 15th. Barclays upped their target price on Medtronic from $104.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. Finally, UBS Group upgraded Medtronic from a "sell" rating to a "neutral" rating and upped their target price for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average 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.

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