Huntington National Bank Purchases 3,917 Shares of Medtronic plc (NYSE:MDT)

Huntington National Bank increased its holdings in Medtronic plc (NYSE:MDT) by 3.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,185 shares of the medical technology company’s stock after acquiring an additional 3,917 shares during the period. Huntington National Bank’s holdings in Medtronic were worth $11,180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Fortitude Family Office LLC bought a new stake in Medtronic in the third quarter worth about $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the 3rd quarter worth approximately $27,000. Lynx Investment Advisory purchased a new position in Medtronic in the second quarter valued at approximately $28,000. Gleason Group Inc. purchased a new position in Medtronic in the second quarter valued at approximately $42,000. Finally, Opal Wealth Advisors LLC bought a new position in Medtronic during the second quarter valued at $43,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

NYSE MDT opened at $85.97 on Friday. The company’s 50 day simple moving average is $89.59 and its two-hundred day simple moving average is $84.66. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. Medtronic plc has a 1 year low of $72.79 and a 1 year high of $92.68. The stock has a market capitalization of $110.25 billion, a PE ratio of 29.04, a P/E/G ratio of 2.51 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter last year, the business posted $1.20 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. Analysts predict that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on MDT shares. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and boosted their target price for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Piper Sandler boosted their price objective on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Truist Financial increased their target price on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Citigroup lifted their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $95.36.

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.