W.G. Shaheen & Associates DBA Whitney & Co Acquires 1,503 Shares of Medtronic plc (NYSE:MDT)

W.G. Shaheen & Associates DBA Whitney & Co boosted its position in Medtronic plc (NYSE:MDT) by 1.6% during the third quarter, Holdings Channel.com reports. The fund owned 98,394 shares of the medical technology company’s stock after acquiring an additional 1,503 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Medtronic were worth $8,858,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in Medtronic in the 3rd quarter worth $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic in the 3rd quarter worth $27,000. Lynx Investment Advisory bought a new stake in Medtronic in the 2nd quarter worth $28,000. Gleason Group Inc. bought a new stake in Medtronic in the 2nd quarter worth $42,000. Finally, Opal Wealth Advisors LLC bought a new stake in Medtronic in the 2nd quarter worth $43,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.1 %

Shares of NYSE MDT opened at $87.64 on Tuesday. Medtronic plc has a 1 year low of $74.66 and a 1 year high of $92.68. The stock has a market cap of $112.39 billion, a P/E ratio of 29.61, a price-to-earnings-growth ratio of 2.50 and a beta of 0.84. The firm has a 50-day moving average of $89.42 and a 200 day moving average of $84.82. 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 (NYSE:MDT) last issued its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 earnings per share. As a group, sell-side analysts expect that Medtronic plc will post 5.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Wells Fargo & Company lifted their target price on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and lifted their target price for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Robert W. Baird lifted their target price on shares of Medtronic from $90.00 to $96.00 in a research note on Friday. Finally, JPMorgan Chase & Co. cut their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $95.80.

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.