Medtronic plc (NYSE:MDT) Shares Bought by Cerity Partners LLC

Cerity Partners LLC increased its holdings in Medtronic plc (NYSE:MDT) by 43.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 243,308 shares of the medical technology company’s stock after purchasing an additional 73,334 shares during the period. Cerity Partners LLC’s holdings in Medtronic were worth $21,910,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Medtronic by 1,195.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock worth $144,637,000 after purchasing an additional 1,695,800 shares during the period. International Assets Investment Management LLC lifted its position in shares of Medtronic by 8,908.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock worth $116,896,000 after buying an additional 1,284,002 shares during the last quarter. Troy Asset Management Ltd acquired a new position in Medtronic in the second quarter valued at approximately $85,440,000. 1832 Asset Management L.P. increased its position in Medtronic by 26.9% in the second quarter. 1832 Asset Management L.P. now owns 4,915,609 shares of the medical technology company’s stock worth $386,908,000 after buying an additional 1,041,863 shares during the period. Finally, Panagora Asset Management Inc. increased its holdings in shares of Medtronic by 785.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 839,845 shares of the medical technology company’s stock worth $66,104,000 after acquiring an additional 744,952 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT opened at $86.21 on Monday. The business’s 50-day simple moving average is $88.99 and its 200 day simple moving average is $84.91. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.84. The firm has a market capitalization of $110.56 billion, a PE ratio of 26.36, a PEG ratio of 2.40 and a beta of 0.84.

Medtronic (NYSE:MDT) 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 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the business earned $1.25 EPS. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company dropped their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Evercore ISI increased their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Robert W. Baird cut their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus target price of $95.00.

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.