Medtronic plc (NYSE:MDT) Shares Sold by Bank of Hawaii

Bank of Hawaii decreased its stake in Medtronic plc (NYSE:MDTFree Report) by 74.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,974 shares of the medical technology company’s stock after selling 8,535 shares during the quarter. Bank of Hawaii’s holdings in Medtronic were worth $268,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC lifted its position in shares of 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 worth $861,000 after purchasing an additional 111 shares in the last quarter. First PREMIER Bank increased its stake in Medtronic by 1.8% in the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after buying an additional 116 shares during the period. First City Capital Management Inc. lifted its position in Medtronic by 2.9% in the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after buying an additional 116 shares in the last quarter. Precision Wealth Strategies LLC boosted its stake in shares of 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. Finally, Lake Street Advisors Group LLC grew its holdings in shares of Medtronic by 2.0% during the 3rd quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock valued at $547,000 after acquiring an additional 118 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $85.75 on Tuesday. The firm has a market capitalization of $109.97 billion, a PE ratio of 26.22, a PEG ratio of 2.44 and a beta of 0.84. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The firm’s fifty day simple moving average is $88.91 and its 200 day simple moving average is $84.93.

Medtronic (NYSE:MDTGet Free Report) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the business posted $1.25 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MDT. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Wells Fargo & Company cut their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Evercore ISI lifted their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Finally, Piper Sandler raised their price objective on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic has an average rating of “Hold” and an average target price of $95.00.

Get Our Latest Research Report on Medtronic

Medtronic Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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