Segall Bryant & Hamill LLC Buys Shares of 29,330 Medtronic plc (NYSE:MDT)

Segall Bryant & Hamill LLC purchased a new position in Medtronic plc (NYSE:MDT) during the 3rd quarter, HoldingsChannel reports. The firm purchased 29,330 shares of the medical technology company’s stock, valued at approximately $2,641,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CreativeOne Wealth LLC lifted its position in Medtronic by 31.3% in the 1st quarter. CreativeOne Wealth LLC now owns 5,456 shares of the medical technology company’s stock valued at $475,000 after purchasing an additional 1,300 shares during the last quarter. Kestra Advisory Services LLC raised its holdings in shares of Medtronic by 17.1% during the first quarter. Kestra Advisory Services LLC now owns 148,211 shares of the medical technology company’s stock valued at $12,917,000 after buying an additional 21,594 shares during the last quarter. Bellevue Group AG boosted its position in shares of Medtronic by 3.7% during the first quarter. Bellevue Group AG now owns 1,007,000 shares of the medical technology company’s stock worth $87,760,000 after buying an additional 36,228 shares during the period. Mount Yale Investment Advisors LLC grew its holdings in Medtronic by 2.6% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 7,227 shares of the medical technology company’s stock worth $630,000 after buying an additional 180 shares in the last quarter. Finally, QVR LLC acquired a new stake in Medtronic in the 1st quarter valued at approximately $437,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of MDT opened at $86.21 on Friday. The business’s 50-day moving average is $88.99 and its 200-day moving average is $84.87. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.61. The company has a market capitalization of $110.56 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 2.42 and a beta of 0.84. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MDT shares. Sanford C. Bernstein increased their price target on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wells Fargo & Company dropped their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Stifel Nicolaus lifted their price objective 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, Piper Sandler increased their target price on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have assigned 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.com, Medtronic has a consensus rating of “Hold” and a consensus target price of $95.00.

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.