Medtronic plc (NYSE:MDT) Stake Trimmed by Pathstone Holdings LLC

Pathstone Holdings LLC lowered its stake in Medtronic plc (NYSE:MDT) by 3.2% during the third quarter, HoldingsChannel reports. The firm owned 125,803 shares of the medical technology company’s stock after selling 4,129 shares during the period. Pathstone Holdings LLC’s holdings in Medtronic were worth $11,333,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MDT. Fortitude Family Office LLC purchased a new position in Medtronic in the 3rd quarter worth about $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic in the 3rd quarter worth about $27,000. Lynx Investment Advisory purchased a new position in Medtronic during the 2nd quarter valued at about $28,000. Gleason Group Inc. acquired a new position in shares of Medtronic in the 2nd quarter valued at about $42,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Medtronic in the second quarter worth approximately $43,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of Medtronic stock opened at $84.11 on Thursday. The firm has a fifty day simple moving average of $89.17 and a 200-day simple moving average of $84.84. 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 1-year low of $75.96 and a 1-year high of $92.68. The stock has a market capitalization of $107.87 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 2.50 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the previous year, the company earned $1.25 earnings per share. Medtronic’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, sell-side analysts expect that Medtronic plc will post 5.44 earnings per share for the current year.

Analysts Set New Price Targets

MDT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Evercore ISI boosted their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Sanford C. Bernstein boosted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday. Truist Financial boosted their price objective on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Finally, Stifel Nicolaus boosted 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $95.19.

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.