Medtronic plc (NYSE:MDT) Shares Sold by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC reduced its holdings in Medtronic plc (NYSE:MDT) by 1.1% during the 3rd quarter, Holdings Channel reports. The firm owned 28,212 shares of the medical technology company’s stock after selling 309 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Medtronic were worth $2,540,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. O Shaughnessy Asset Management LLC grew its position in shares of Medtronic by 24.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 109,485 shares of the medical technology company’s stock valued at $9,542,000 after purchasing an additional 21,702 shares during the period. Clearbridge Investments LLC boosted its holdings in Medtronic by 2.8% in the 1st quarter. Clearbridge Investments LLC now owns 595,995 shares of the medical technology company’s stock worth $51,941,000 after buying an additional 16,105 shares during the last quarter. Bessemer Group Inc. increased its stake in Medtronic by 0.4% during the 1st quarter. Bessemer Group Inc. now owns 689,918 shares of the medical technology company’s stock worth $60,127,000 after buying an additional 2,462 shares in the last quarter. Lake Street Advisors Group LLC acquired a new position in shares of Medtronic during the first quarter valued at approximately $498,000. Finally, National Bank of Canada FI lifted its position in shares of Medtronic by 13.6% in the first quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company’s stock valued at $21,642,000 after acquiring an additional 31,195 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Up 0.1 %

Medtronic stock opened at $87.64 on Tuesday. The stock has a market cap of $112.39 billion, a PE ratio of 29.61, a P/E/G ratio of 2.50 and a beta of 0.84. 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 $74.66 and a 1-year high of $92.68. The stock’s fifty day moving average is $89.42 and its two-hundred day moving average is $84.82.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. During the same period last year, the business earned $1.20 EPS. Medtronic’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, sell-side analysts expect that Medtronic plc will post 5.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on MDT shares. Robert W. Baird boosted their price target on Medtronic from $90.00 to $96.00 in a research report on Friday. JPMorgan Chase & Co. decreased their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and upped their price objective for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Piper Sandler raised their target price on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Medtronic has a consensus rating of “Hold” and a consensus price target of $95.80.

Medtronic 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.