Stifel Financial Corp Has $525.96 Million Holdings in Medtronic plc (NYSE:MDT)

Stifel Financial Corp increased its position in Medtronic plc (NYSE:MDT - Free Report) by 2.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,842,020 shares of the medical technology company's stock after purchasing an additional 164,700 shares during the period. Stifel Financial Corp owned 0.46% of Medtronic worth $525,960,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDT. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic in the third quarter worth $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic during the third quarter valued at $27,000. J. Stern & Co. LLP acquired a new stake in shares of Medtronic during the third quarter worth $30,000. Finally, Gleason Group Inc. bought a new position in shares of Medtronic in the 2nd quarter worth about $42,000. 82.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

MDT has been the topic of several research reports. Barclays increased their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. Daiwa America upgraded Medtronic to a "strong-buy" rating in a research report on Friday, August 23rd. Piper Sandler boosted their price objective on Medtronic from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Wednesday, August 21st. Robert W. Baird dropped their target price on Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 20th. Finally, Truist Financial raised their target price on Medtronic from $90.00 to $93.00 and gave the company a "hold" rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $95.27.

Medtronic Price Performance

Shares of MDT traded down $1.18 during midday trading on Thursday, reaching $84.14. The stock had a trading volume of 6,830,583 shares, compared to its average volume of 6,268,990. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company has a market capitalization of $107.89 billion, a P/E ratio of 25.92, a P/E/G ratio of 2.43 and a beta of 0.82. The firm's 50 day moving average price is $88.46 and its 200-day moving average price is $85.01. Medtronic plc has a 52 week low of $75.96 and a 52 week 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%. Medtronic's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 earnings per share. On average, analysts forecast that Medtronic plc will post 5.45 earnings per share 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.