Tokio Marine Asset Management Co. Ltd. Reduces Position in Medtronic plc (NYSE:MDT)

Tokio Marine Asset Management Co. Ltd. cut its holdings in shares of Medtronic plc (NYSE:MDT) by 1.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 90,400 shares of the medical technology company’s stock after selling 1,274 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Medtronic were worth $8,139,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Clear Harbor Asset Management LLC grew its holdings in Medtronic by 1.2% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after purchasing an additional 111 shares during the last quarter. First PREMIER Bank boosted its position in Medtronic by 1.8% in the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after buying an additional 116 shares during the period. Precision Wealth Strategies LLC grew its stake in Medtronic by 3.3% in the 3rd quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock worth $337,000 after acquiring an additional 118 shares in the last quarter. Lake Street Advisors Group LLC increased its position in shares of Medtronic by 2.0% during the third quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock worth $547,000 after acquiring an additional 118 shares during the period. Finally, Sigma Planning Corp boosted its holdings in shares of Medtronic by 0.4% in the third quarter. Sigma Planning Corp now owns 28,843 shares of the medical technology company’s stock valued at $2,597,000 after purchasing an additional 124 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

Shares of Medtronic stock traded down $0.05 during trading on Thursday, reaching $87.92. The company’s stock had a trading volume of 375,519 shares, compared to its average volume of 6,183,291. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. Medtronic plc has a fifty-two week low of $72.79 and a fifty-two week high of $92.68. The company has a 50-day moving average price of $89.59 and a two-hundred day moving average price of $84.66. The firm has a market cap of $112.75 billion, a PE ratio of 29.72, a P/E/G ratio of 2.52 and a beta of 0.84.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter last year, the firm posted $1.20 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. On average, analysts forecast that Medtronic plc will post 5.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Wells Fargo & Company increased their target price on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Robert W. Baird lifted their price target on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. 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 report on Thursday, October 10th. Finally, Stifel Nicolaus boosted their target price on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given 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 $95.36.

About Medtronic

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.