Simmons Bank Has $744,000 Holdings in Medtronic plc (NYSE:MDT)

Simmons Bank trimmed its position in Medtronic plc (NYSE:MDT) by 7.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,260 shares of the medical technology company’s stock after selling 701 shares during the quarter. Simmons Bank’s holdings in Medtronic were worth $744,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MDT. M&G Plc bought a new position in shares of Medtronic during the 1st quarter worth about $259,160,000. Capital Research Global Investors boosted its holdings in Medtronic by 7.1% during the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after purchasing an additional 2,044,109 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Medtronic by 1,195.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock valued at $144,637,000 after purchasing an additional 1,695,800 shares during the period. International Assets Investment Management LLC raised its holdings 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 in the last quarter. Finally, Troy Asset Management Ltd bought a new position in shares of Medtronic during the 2nd quarter worth approximately $85,440,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

MDT stock opened at $87.98 on Thursday. The company has a 50 day moving average price of $89.65 and a 200 day moving average price of $84.63. Medtronic plc has a fifty-two week low of $72.08 and a fifty-two week high of $92.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The stock has a market capitalization of $112.83 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 2.52 and a beta of 0.84.

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

Analysts Set New Price Targets

MDT has been the topic of a number of analyst reports. Evercore ISI upped 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. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and increased their target price for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Medtronic has an average rating of “Hold” and an average target price of $95.36.

About Medtronic

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.