5,785 Shares in Medtronic plc (NYSE:MDT) Purchased by Curi RMB Capital LLC

Curi RMB Capital LLC purchased a new position in Medtronic plc (NYSE:MDT) during the third quarter, HoldingsChannel reports. The institutional investor purchased 5,785 shares of the medical technology company’s stock, valued at approximately $521,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MDT. Clear Harbor Asset Management LLC boosted its position in Medtronic by 1.2% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after purchasing an additional 111 shares during the period. First PREMIER Bank lifted its stake in shares of Medtronic by 1.8% during the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock worth $577,000 after purchasing an additional 116 shares in the last quarter. Precision Wealth Strategies LLC boosted its position in shares of Medtronic by 3.3% in the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock worth $337,000 after buying an additional 118 shares during the period. Lake Street Advisors Group LLC grew its stake in shares of Medtronic by 2.0% in the third quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock valued at $547,000 after buying an additional 118 shares in the last quarter. Finally, Sigma Planning Corp raised its holdings in shares of Medtronic by 0.4% during the 3rd quarter. Sigma Planning Corp now owns 28,843 shares of the medical technology company’s stock valued at $2,597,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT stock opened at $87.53 on Friday. The stock’s 50 day simple moving average is $89.48 and its 200 day simple moving average is $84.71. Medtronic plc has a 12-month low of $74.20 and a 12-month high of $92.68. The firm has a market cap of $112.25 billion, a P/E ratio of 29.57, a P/E/G ratio of 2.51 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last issued 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. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. During the same period in the prior year, the company earned $1.20 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts predict that Medtronic plc will post 5.44 EPS for the current year.

Analyst Ratings Changes

MDT has been the subject of a number of analyst reports. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Oppenheimer upped their target price on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. Truist Financial lifted 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. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Finally, Piper Sandler lifted their target price on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. One research 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.