D.A. Davidson & CO. Decreases Stake in Medtronic plc (NYSE:MDT)

D.A. Davidson & CO. lessened its position in shares of Medtronic plc (NYSE:MDT) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,067 shares of the medical technology company’s stock after selling 2,501 shares during the quarter. D.A. Davidson & CO.’s holdings in Medtronic were worth $19,272,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Pzena Investment Management LLC increased its position in Medtronic by 3.3% in the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock worth $772,727,000 after purchasing an additional 275,870 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Medtronic by 7.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock worth $560,494,000 after buying an additional 515,751 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Medtronic by 2.3% in the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock worth $575,460,000 after buying an additional 145,504 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Medtronic by 11.5% during the 3rd quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company’s stock valued at $530,612,000 after buying an additional 609,391 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Medtronic by 26.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 4,915,609 shares of the medical technology company’s stock valued at $386,908,000 after acquiring an additional 1,041,863 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Down 0.5 %

Shares of NYSE MDT opened at $85.75 on Tuesday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The firm has a market capitalization of $109.97 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 2.44 and a beta of 0.84. The stock has a 50 day moving average price of $88.91 and a 200 day moving average price of $84.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 EPS. Sell-side analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Analysts Set New Price Targets

MDT has been the topic of a number of recent research reports. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Citigroup lifted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Barclays increased their target price on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Piper Sandler lifted their price target 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.00.

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.