Medtronic plc (NYSE:MDT) Shares Purchased by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC raised its holdings in shares of Medtronic plc (NYSE:MDT) by 10.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,802 shares of the medical technology company’s stock after acquiring an additional 360 shares during the period. Nicolet Advisory Services LLC’s holdings in Medtronic were worth $334,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MDT. Mount Yale Investment Advisors LLC increased its stake in Medtronic by 2.6% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 7,227 shares of the medical technology company’s stock valued at $630,000 after buying an additional 180 shares during the period. Ascent Group LLC raised its holdings in Medtronic by 17.4% during the first quarter. Ascent Group LLC now owns 3,349 shares of the medical technology company’s stock worth $292,000 after purchasing an additional 497 shares in the last quarter. Industrial Alliance Investment Management Inc. raised its holdings in Medtronic by 4.4% during the first quarter. Industrial Alliance Investment Management Inc. now owns 6,315 shares of the medical technology company’s stock worth $550,000 after purchasing an additional 266 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Medtronic by 27.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 40,468 shares of the medical technology company’s stock valued at $3,527,000 after purchasing an additional 8,792 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co boosted its stake in Medtronic by 25.8% during the 1st quarter. Meiji Yasuda Life Insurance Co now owns 15,809 shares of the medical technology company’s stock valued at $1,378,000 after purchasing an additional 3,241 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of several research reports. Daiwa America raised Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Citigroup lifted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Oppenheimer raised their target price on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Piper Sandler upped their price target on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Finally, Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $95.00.

Medtronic Stock Performance

MDT stock opened at $86.21 on Monday. The firm has a 50 day simple moving average of $88.99 and a 200 day simple moving average of $84.91. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The stock has a market cap of $110.56 billion, a P/E ratio of 26.36, a P/E/G ratio of 2.40 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last issued its earnings results 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 company 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 posted $1.25 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Research analysts anticipate that Medtronic plc will post 5.46 earnings per share 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.