Managed Asset Portfolios LLC Has $26.32 Million Stake in Medtronic plc (NYSE:MDT)

Managed Asset Portfolios LLC grew its holdings in Medtronic plc (NYSE:MDT) by 23.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 292,378 shares of the medical technology company’s stock after purchasing an additional 55,517 shares during the quarter. Medtronic comprises about 3.7% of Managed Asset Portfolios LLC’s investment portfolio, making the stock its 10th largest position. Managed Asset Portfolios LLC’s holdings in Medtronic were worth $26,323,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MDT. Kestra Advisory Services LLC increased its position in Medtronic by 17.1% in the first quarter. Kestra Advisory Services LLC now owns 148,211 shares of the medical technology company’s stock worth $12,917,000 after purchasing an additional 21,594 shares during the period. Mount Yale Investment Advisors LLC raised its holdings in Medtronic by 2.6% in the first quarter. Mount Yale Investment Advisors LLC now owns 7,227 shares of the medical technology company’s stock worth $630,000 after purchasing an additional 180 shares during the period. Ascent Group LLC raised its stake in Medtronic by 17.4% during the 1st quarter. Ascent Group LLC now owns 3,349 shares of the medical technology company’s stock worth $292,000 after buying an additional 497 shares during the period. Kinloch Capital LLC raised its position in shares of Medtronic by 4.8% during the first quarter. Kinloch Capital LLC now owns 41,080 shares of the medical technology company’s stock worth $3,580,000 after purchasing an additional 1,878 shares during the period. Finally, Industrial Alliance Investment Management Inc. raised its holdings in Medtronic by 4.4% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 6,315 shares of the medical technology company’s stock worth $550,000 after buying an additional 266 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MDT shares. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $98.00 to $105.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Sanford C. Bernstein upped their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday. Oppenheimer upped their price objective on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 1.7 %

NYSE MDT opened at $86.21 on Friday. The company has a market cap of $110.56 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 2.40 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The company has a quick ratio of 1.61, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The business’s fifty day moving average is $88.99 and its 200 day moving average is $84.89.

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, beating 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 business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the business earned $1.25 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Company 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.