Cutler Investment Counsel LLC Has $11.53 Million Stake in Medtronic plc (NYSE:MDT)

Cutler Investment Counsel LLC lessened its stake in shares of Medtronic plc (NYSE:MDT) by 1.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 127,032 shares of the medical technology company’s stock after selling 1,675 shares during the period. Medtronic comprises approximately 1.5% of Cutler Investment Counsel LLC’s investment portfolio, making the stock its 25th largest holding. Cutler Investment Counsel LLC’s holdings in Medtronic were worth $11,525,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in MDT. Capital Research Global Investors grew its position in shares of Medtronic by 7.1% during the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock worth $2,691,577,000 after purchasing an additional 2,044,109 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Medtronic by 1,195.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock valued at $144,637,000 after purchasing an additional 1,695,800 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Medtronic by 8,908.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock worth $116,896,000 after purchasing an additional 1,284,002 shares in the last quarter. Troy Asset Management Ltd acquired a new stake in Medtronic during the 2nd quarter worth approximately $85,440,000. Finally, 1832 Asset Management L.P. increased its holdings in Medtronic by 26.9% in the second quarter. 1832 Asset Management L.P. now owns 4,915,609 shares of the medical technology company’s stock valued at $386,908,000 after purchasing an additional 1,041,863 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Evercore ISI increased their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus upped their target price on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Barclays upped their price objective on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $95.80.

Medtronic Trading Up 1.8 %

NYSE:MDT traded up $1.53 during midday trading on Friday, hitting $87.53. 7,952,317 shares of the company traded hands, compared to its average volume of 6,225,400. Medtronic plc has a 12-month low of $74.20 and a 12-month high of $92.68. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The firm’s fifty day moving average is $89.48 and its 200-day moving average is $84.71. The firm has a market capitalization of $112.25 billion, a P/E ratio of 29.57, a P/E/G ratio of 2.51 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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. The firm had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $1.20 earnings per share. On average, sell-side analysts predict that Medtronic plc will post 5.44 EPS 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.