Hancock Whitney Corp Sells 1,871 Shares of Medtronic plc (NYSE:MDT)

Hancock Whitney Corp trimmed its stake in shares of Medtronic plc (NYSE:MDT) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,407 shares of the medical technology company’s stock after selling 1,871 shares during the quarter. Hancock Whitney Corp’s holdings in Medtronic were worth $3,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of MDT. Fortitude Family Office LLC bought a new position in shares of Medtronic during the third quarter valued at about $27,000. Darwin Wealth Management LLC purchased a new stake in Medtronic in the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the 3rd quarter worth approximately $27,000. Lynx Investment Advisory purchased a new position in shares of Medtronic during the second quarter valued at approximately $28,000. Finally, Gleason Group Inc. purchased a new position in shares of Medtronic during the second quarter valued at approximately $42,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the topic of several recent analyst reports. Barclays lifted their price target on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer boosted their price target on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. lowered their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Truist Financial upped their target price on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Finally, Evercore ISI raised their target price on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $95.00.

Medtronic Stock Down 0.5 %

NYSE:MDT opened at $85.75 on Tuesday. The firm has a 50-day simple moving average of $88.91 and a two-hundred day simple moving average of $84.93. The firm has a market cap of $109.97 billion, a P/E ratio of 26.22, a P/E/G ratio of 2.44 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. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share 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 analyst estimates of $8.27 billion. During the same period in the previous year, the business earned $1.25 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts predict 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.