Medtronic plc (NYSE:MDT) Position Lowered by Round Hill Asset Management

Round Hill Asset Management lessened its holdings in Medtronic plc (NYSE:MDT) by 0.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,220 shares of the medical technology company’s stock after selling 125 shares during the quarter. Medtronic makes up about 3.1% of Round Hill Asset Management’s holdings, making the stock its 8th largest position. Round Hill Asset Management’s holdings in Medtronic were worth $4,701,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kestra Advisory Services LLC raised its holdings in Medtronic by 17.1% during the first quarter. Kestra Advisory Services LLC now owns 148,211 shares of the medical technology company’s stock worth $12,917,000 after purchasing an additional 21,594 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its position in Medtronic by 2.6% in the first quarter. Mount Yale Investment Advisors LLC now owns 7,227 shares of the medical technology company’s stock valued at $630,000 after acquiring an additional 180 shares during the last quarter. Ascent Group LLC grew its holdings in shares of Medtronic by 17.4% during the first quarter. Ascent Group LLC now owns 3,349 shares of the medical technology company’s stock worth $292,000 after purchasing an additional 497 shares during the last quarter. Kinloch Capital LLC increased its position in shares of Medtronic by 4.8% during the first quarter. Kinloch Capital LLC now owns 41,080 shares of the medical technology company’s stock worth $3,580,000 after purchasing an additional 1,878 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. lifted its holdings in shares of Medtronic by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 6,315 shares of the medical technology company’s stock valued at $550,000 after purchasing an additional 266 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MDT shares. Evercore ISI raised their price target on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Piper Sandler lifted their target price on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Sanford C. Bernstein boosted their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Daiwa America raised shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Stock Up 1.7 %

Shares of NYSE:MDT opened at $86.21 on Friday. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The stock’s 50-day moving average price is $88.99 and its two-hundred day moving average price is $84.89. The company has a current ratio of 1.84, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51. The firm has a market cap of $110.56 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.40 and a beta of 0.84.

Medtronic (NYSE:MDT) 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 during the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted $1.25 earnings per share. On average, research analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

About Medtronic

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.