Newfound Research LLC Increases Holdings in Medtronic plc (NYSE:MDT)

Newfound Research LLC raised its position in Medtronic plc (NYSE:MDT) by 156.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 884 shares of the medical technology company’s stock after buying an additional 539 shares during the period. Newfound Research LLC’s holdings in Medtronic were worth $111,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MDT. Hoylecohen LLC boosted its position in Medtronic by 3.6% in the 1st quarter. Hoylecohen LLC now owns 22,384 shares of the medical technology company’s stock valued at $2,644,000 after buying an additional 785 shares during the last quarter. Gladstone Institutional Advisory LLC bought a new position in shares of Medtronic during the first quarter worth about $430,000. Childress Capital Advisors LLC lifted its position in shares of Medtronic by 116.5% during the first quarter. Childress Capital Advisors LLC now owns 2,905 shares of the medical technology company’s stock worth $343,000 after purchasing an additional 1,563 shares during the last quarter. Sargent Bickham Lagudis LLC lifted its position in shares of Medtronic by 0.9% during the first quarter. Sargent Bickham Lagudis LLC now owns 10,063 shares of the medical technology company’s stock worth $1,189,000 after purchasing an additional 90 shares during the last quarter. Finally, Aspire Private Capital LLC lifted its position in shares of Medtronic by 1,316.7% during the first quarter. Aspire Private Capital LLC now owns 340 shares of the medical technology company’s stock worth $40,000 after purchasing an additional 316 shares during the last quarter. 79.58% of the stock is owned by institutional investors.

Several equities analysts have recently commented on MDT shares. Stifel Nicolaus increased their price target on shares of Medtronic from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, August 25th. Oppenheimer reduced their price target on shares of Medtronic from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Wednesday. Wells Fargo & Company dropped their price objective on shares of Medtronic from $144.00 to $137.00 and set an “overweight” rating on the stock in a research note on Wednesday. Truist dropped their price objective on shares of Medtronic from $148.00 to $142.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley dropped their price objective on shares of Medtronic from $154.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $142.50.

In other Medtronic news, SVP Bradley E. Lerman sold 49,147 shares of Medtronic stock in a transaction on Thursday, September 30th. The shares were sold at an average price of $126.58, for a total transaction of $6,221,027.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bradley E. Lerman sold 50,775 shares of the firm’s stock in a transaction on Tuesday, August 31st. The shares were sold at an average price of $134.17, for a total transaction of $6,812,481.75. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

NYSE:MDT traded up $1.06 during trading hours on Thursday, reaching $114.44. 5,588,711 shares of the company’s stock were exchanged, compared to its average volume of 4,477,333. The company has a market capitalization of $153.80 billion, a P/E ratio of 40.01, a price-to-earnings-growth ratio of 3.09 and a beta of 0.76. Medtronic plc has a 12 month low of $110.06 and a 12 month high of $135.89. The company has a quick ratio of 2.34, a current ratio of 2.89 and a debt-to-equity ratio of 0.50. The business’s 50-day simple moving average is $123.16 and its two-hundred day simple moving average is $126.17.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 23rd. The medical technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.03. Medtronic had a net margin of 12.29% and a return on equity of 13.85%. The firm had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.98 billion. During the same quarter last year, the business posted $1.02 EPS. The company’s revenue was up 3.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Medtronic plc will post 5.69 earnings per share for the current fiscal year.

Medtronic Company Profile

Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiac and Vascular Group; Minimally Invasive Technologies Group; Restorative Therapies Group; and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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