Medtronic plc (NYSE:MDT) Shares Sold by S&CO Inc.

S&CO Inc. cut its holdings in shares of Medtronic plc (NYSE:MDT) by 8.8% in the 3rd quarter, Holdings Channel reports. The firm owned 116,975 shares of the medical technology company’s stock after selling 11,350 shares during the period. S&CO Inc.’s holdings in Medtronic were worth $10,531,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Claro Advisors LLC lifted its position in shares of Medtronic by 18.3% in the 3rd quarter. Claro Advisors LLC now owns 17,586 shares of the medical technology company’s stock valued at $1,583,000 after acquiring an additional 2,723 shares in the last quarter. Atlanta Consulting Group Advisors LLC increased its stake in shares of Medtronic by 59.3% during the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 4,752 shares of the medical technology company’s stock worth $428,000 after purchasing an additional 1,769 shares during the last quarter. Accredited Investors Inc. increased its stake in shares of Medtronic by 8.3% during the 3rd quarter. Accredited Investors Inc. now owns 11,434 shares of the medical technology company’s stock worth $1,029,000 after purchasing an additional 876 shares during the last quarter. River Street Advisors LLC increased its stake in shares of Medtronic by 1.5% during the 3rd quarter. River Street Advisors LLC now owns 11,894 shares of the medical technology company’s stock worth $1,071,000 after purchasing an additional 173 shares during the last quarter. Finally, Evergreen Wealth Management LLC grew its stake in Medtronic by 36.7% in the 3rd quarter. Evergreen Wealth Management LLC now owns 26,202 shares of the medical technology company’s stock valued at $2,359,000 after buying an additional 7,037 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 1.8 %

MDT opened at $87.53 on Friday. Medtronic plc has a fifty-two week low of $74.20 and a fifty-two week high of $92.68. 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 company’s 50-day moving average is $89.48 and its 200 day moving average is $84.74. The firm has a market capitalization of $112.25 billion, a P/E ratio of 29.57, a PEG ratio of 2.50 and a beta of 0.84.

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 analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 EPS. Research analysts expect that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. 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 report on Monday, October 14th. Stifel Nicolaus boosted their price objective on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Finally, Barclays lifted their price target on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus 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.