Marco Investment Management LLC Raises Stock Holdings in Medtronic plc (NYSE:MDT)

Marco Investment Management LLC boosted its holdings in Medtronic plc (NYSE:MDT) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,241 shares of the medical technology company’s stock after purchasing an additional 510 shares during the period. Marco Investment Management LLC’s holdings in Medtronic were worth $8,845,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MDT. Olstein Capital Management L.P. grew its position in Medtronic by 19.2% during the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after buying an additional 14,000 shares during the period. Manning & Napier Advisors LLC purchased a new position in Medtronic in the second quarter valued at about $25,643,000. Ferguson Wellman Capital Management Inc. bought a new position in shares of Medtronic during the 3rd quarter valued at approximately $9,486,000. Harvest Portfolios Group Inc. increased its stake in shares of Medtronic by 6.5% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock worth $62,042,000 after purchasing an additional 42,112 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Medtronic by 6.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 368,682 shares of the medical technology company’s stock worth $29,019,000 after purchasing an additional 21,995 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 1.7 %

Shares of NYSE:MDT opened at $86.21 on Friday. The firm has a fifty day moving average price of $88.99 and a two-hundred day moving average price of $84.89. The company has a market cap of $110.56 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.40 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.61. Medtronic plc has a one year low of $75.96 and a one year high of $92.68.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 earnings per share. Analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Stifel Nicolaus increased their price target on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Sanford C. Bernstein boosted their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday. Robert W. Baird cut their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada raised shares of 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 research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus price target of $95.00.

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.