Medtronic plc (NYSE:MDT) Shares Purchased by Caprock Group LLC

Caprock Group LLC increased its holdings in Medtronic plc (NYSE:MDT) by 24.6% in the third quarter, Holdings Channel.com reports. The firm owned 42,404 shares of the medical technology company’s stock after purchasing an additional 8,364 shares during the period. Caprock Group LLC’s holdings in Medtronic were worth $3,847,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MDT. Clear Harbor Asset Management LLC increased its stake in Medtronic by 1.2% in the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after acquiring an additional 111 shares during the last quarter. First PREMIER Bank boosted 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 valued at $577,000 after purchasing an additional 116 shares during the period. Precision Wealth Strategies LLC boosted its position in Medtronic by 3.3% during the 3rd quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock valued at $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 worth $547,000 after purchasing an additional 118 shares during the last quarter. Finally, Sigma Planning Corp grew its position in shares of Medtronic by 0.4% in the 3rd quarter. Sigma Planning Corp now owns 28,843 shares of the medical technology company’s stock worth $2,597,000 after buying an additional 124 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Piper Sandler upped 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. Robert W. Baird increased their target price on Medtronic from $90.00 to $96.00 in a research note on Friday, November 15th. Stifel Nicolaus lifted their price target on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $98.00 to $105.00 in a report on Thursday, October 10th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average target price of $95.80.

Medtronic Trading Down 2.9 %

Medtronic stock opened at $85.01 on Wednesday. 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 cap of $109.02 billion, a P/E ratio of 28.72, a PEG ratio of 2.50 and a beta of 0.84. The firm’s 50 day moving average price is $89.30 and its 200-day moving average price is $84.84. Medtronic plc has a 1 year low of $74.66 and a 1 year high of $92.68.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the firm earned $1.25 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts predict that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

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.