Aljian Capital Management LLC Buys New Position in Medtronic plc (NYSE:MDT)

Aljian Capital Management LLC purchased a new position in Medtronic plc (NYSE:MDT) in the third quarter, HoldingsChannel reports. The institutional investor purchased 5,109 shares of the medical technology company’s stock, valued at approximately $460,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Claro Advisors LLC lifted its holdings in shares of Medtronic by 18.3% during the 3rd quarter. Claro Advisors LLC now owns 17,586 shares of the medical technology company’s stock worth $1,583,000 after acquiring an additional 2,723 shares during the last quarter. Atlanta Consulting Group Advisors LLC increased its stake in Medtronic by 59.3% in the third quarter. Atlanta Consulting Group Advisors LLC now owns 4,752 shares of the medical technology company’s stock valued at $428,000 after acquiring an additional 1,769 shares during the last quarter. Accredited Investors Inc. raised its position in Medtronic by 8.3% during the third quarter. Accredited Investors Inc. now owns 11,434 shares of the medical technology company’s stock valued at $1,029,000 after purchasing an additional 876 shares in the last quarter. River Street Advisors LLC lifted its stake in Medtronic by 1.5% during the third quarter. River Street Advisors LLC now owns 11,894 shares of the medical technology company’s stock worth $1,071,000 after purchasing an additional 173 shares during the last quarter. Finally, Evergreen Wealth Management LLC boosted its holdings in shares of Medtronic by 36.7% in the 3rd quarter. Evergreen Wealth Management LLC now owns 26,202 shares of the medical technology company’s stock worth $2,359,000 after purchasing an additional 7,037 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 1.8 %

NYSE MDT opened at $87.53 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. Medtronic plc has a fifty-two week low of $74.20 and a fifty-two week high of $92.68. The stock has a market cap of $112.25 billion, a P/E ratio of 29.57, a price-to-earnings-growth ratio of 2.50 and a beta of 0.84. The stock has a 50 day simple moving average of $89.48 and a two-hundred day simple moving average of $84.77.

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 analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 earnings per share. On average, analysts forecast that Medtronic plc will post 5.44 earnings per share for the current year.

Analyst Ratings Changes

MDT has been the subject of a number of recent research reports. Barclays boosted their target price on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Stifel Nicolaus increased their target price on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Truist Financial boosted their price target on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Finally, Oppenheimer raised their price objective on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.