Verity & Verity LLC raised its stake in Medtronic plc (NYSE:MDT - Free Report) by 3.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 176,098 shares of the medical technology company's stock after acquiring an additional 6,316 shares during the period. Medtronic comprises about 1.6% of Verity & Verity LLC's investment portfolio, making the stock its 27th largest position. Verity & Verity LLC's holdings in Medtronic were worth $15,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently bought and sold shares of MDT. Olstein Capital Management L.P. increased its position in shares of Medtronic by 19.2% during the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company's stock worth $7,833,000 after purchasing an additional 14,000 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Medtronic during the second quarter worth approximately $25,643,000. Ferguson Wellman Capital Management Inc. bought a new position in shares of Medtronic in the third quarter valued at approximately $9,486,000. National Bank of Canada FI boosted its holdings in shares of Medtronic by 13.6% in the 1st quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company's stock worth $21,642,000 after acquiring an additional 31,195 shares in the last quarter. Finally, Harvest Portfolios Group Inc. grew its position in Medtronic by 6.5% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company's stock worth $62,042,000 after acquiring an additional 42,112 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
MDT has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on Medtronic from $85.00 to $87.00 and gave the company a "hold" rating in a research report on Wednesday, August 21st. Robert W. Baird upped their price target on shares of Medtronic from $90.00 to $96.00 in a research report on Friday. Daiwa America upgraded shares of Medtronic to a "strong-buy" rating in a research report on Friday, August 23rd. Royal Bank of Canada upgraded shares of Medtronic from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Finally, Piper Sandler raised their price target on shares of Medtronic from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday, August 21st. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic presently has an average rating of "Hold" and an average price target of $95.80.
Check Out Our Latest Research Report on Medtronic
Medtronic Trading Down 2.9 %
MDT traded down $2.58 during midday trading on Tuesday, reaching $85.01. 9,276,084 shares of the company were exchanged, compared to its average volume of 6,257,400. The stock has a market capitalization of $109.02 billion, a P/E ratio of 28.72, a PEG ratio of 2.50 and a beta of 0.84. Medtronic plc has a one year low of $74.66 and a one year high of $92.68. The stock's 50-day simple moving average is $89.30 and its 200 day simple moving average is $84.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13.
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 for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the firm earned $1.25 EPS. Medtronic's quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts forecast that Medtronic plc will post 5.44 earnings per share for the current fiscal year.
About Medtronic
(
Free Report)
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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