Brooklyn Investment Group Lowers Stock Position in Medtronic plc (NYSE:MDT)

Brooklyn Investment Group trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 11.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,158 shares of the medical technology company’s stock after selling 395 shares during the quarter. Brooklyn Investment Group’s holdings in Medtronic were worth $284,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MDT. FMR LLC boosted its position in Medtronic by 21.0% during the 3rd quarter. FMR LLC now owns 1,839,569 shares of the medical technology company’s stock valued at $165,616,000 after acquiring an additional 319,256 shares in the last quarter. Dai ichi Life Insurance Company Ltd lifted its stake in shares of Medtronic by 21.6% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 45,096 shares of the medical technology company’s stock worth $4,060,000 after purchasing an additional 8,000 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Medtronic by 29.1% during the third quarter. The Manufacturers Life Insurance Company now owns 3,252,181 shares of the medical technology company’s stock valued at $292,794,000 after purchasing an additional 732,753 shares in the last quarter. Qsemble Capital Management LP grew its stake in Medtronic by 15.9% in the third quarter. Qsemble Capital Management LP now owns 52,816 shares of the medical technology company’s stock valued at $4,755,000 after purchasing an additional 7,257 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in Medtronic by 65.0% in the third quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock valued at $406,122,000 after purchasing an additional 1,790,483 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on MDT. Stifel Nicolaus raised their price target on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Wells Fargo & Company lowered their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Barclays upped their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday. Oppenheimer increased their price objective on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. dropped their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $95.27.

Medtronic Stock Down 0.1 %

Medtronic stock opened at $85.67 on Wednesday. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The firm has a market cap of $109.87 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 2.43 and a beta of 0.84. The business’s 50-day moving average price is $88.85 and its 200 day moving average price is $84.95. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. As a group, sell-side analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

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.