Metis Global Partners LLC Purchases 759 Shares of Medtronic plc (NYSE:MDT)

Metis Global Partners LLC raised its position in Medtronic plc (NYSE:MDT) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,238 shares of the medical technology company’s stock after purchasing an additional 759 shares during the quarter. Metis Global Partners LLC’s holdings in Medtronic were worth $4,883,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Olstein Capital Management L.P. grew its position in Medtronic by 19.2% in 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 purchasing an additional 14,000 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Medtronic in the 2nd quarter valued at about $25,643,000. National Bank of Canada FI increased its position in shares of Medtronic by 13.6% in the first quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company’s stock valued at $21,642,000 after acquiring an additional 31,195 shares during the last quarter. Harvest Portfolios Group Inc. raised its holdings in Medtronic by 6.5% during the third quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock worth $62,042,000 after acquiring an additional 42,112 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Medtronic by 6.3% during 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 last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MDT shares. Piper Sandler increased their price objective on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Stifel Nicolaus lifted their price objective on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Oppenheimer raised their target price on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. Robert W. Baird boosted their price target on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company raised their price objective on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $95.36.

Medtronic Trading Down 2.3 %

MDT stock opened at $85.97 on Friday. Medtronic plc has a 52 week low of $72.79 and a 52 week high of $92.68. The company has a market capitalization of $110.25 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 2.51 and a beta of 0.84. The company’s 50-day simple moving average is $89.59 and its 200 day simple moving average is $84.66. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. During the same quarter in the prior year, the business posted $1.20 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current 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.