105,364 Shares in Medtronic plc (NYSE:MDT) Purchased by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. bought a new stake in shares of Medtronic plc (NYSE:MDT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 105,364 shares of the medical technology company’s stock, valued at approximately $9,486,000.

Other hedge funds have also recently modified their holdings of the company. M&G Plc bought a new position in Medtronic in the 1st quarter valued at $259,160,000. Capital Research Global Investors grew its holdings in shares of Medtronic by 7.1% in the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock worth $2,691,577,000 after purchasing an additional 2,044,109 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in 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 worth $144,637,000 after buying an additional 1,695,800 shares during the period. International Assets Investment Management LLC lifted its holdings in Medtronic by 8,908.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock valued at $116,896,000 after buying an additional 1,284,002 shares in the last quarter. Finally, Troy Asset Management Ltd purchased a new stake in Medtronic in the 2nd quarter valued at about $85,440,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.0 %

Shares of MDT traded down $0.02 during midday trading on Thursday, hitting $87.95. 368,222 shares of the company’s stock traded hands, compared to its average volume of 6,182,854. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $112.79 billion, a price-to-earnings ratio of 29.72, a price-to-earnings-growth ratio of 2.52 and a beta of 0.84. Medtronic plc has a 1 year low of $72.79 and a 1 year high of $92.68. The firm’s fifty day moving average is $89.59 and its 200-day moving average is $84.66.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Truist Financial raised their target price on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Barclays lifted their target price on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Stifel Nicolaus upped their target price on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Wells Fargo & Company raised their price target on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Citigroup upped 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus 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.