Medtronic plc (NYSE:MDT) Shares Bought by Planning Capital Management Corp

Planning Capital Management Corp increased its holdings in Medtronic plc (NYSE:MDT) by 124.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,402 shares of the medical technology company’s stock after buying an additional 6,873 shares during the quarter. Planning Capital Management Corp’s holdings in Medtronic were worth $1,117,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. KBC Group NV increased its holdings in Medtronic by 78.3% in the 3rd quarter. KBC Group NV now owns 654,279 shares of the medical technology company’s stock worth $58,905,000 after buying an additional 287,396 shares during the period. Huntington National Bank grew its stake in shares of Medtronic by 3.3% during the 3rd quarter. Huntington National Bank now owns 124,185 shares of the medical technology company’s stock worth $11,180,000 after purchasing an additional 3,917 shares during the period. Plato Investment Management Ltd acquired a new stake in shares of Medtronic during the 3rd quarter worth approximately $3,424,000. Mengis Capital Management Inc. grew its stake in shares of Medtronic by 1.3% during the 3rd quarter. Mengis Capital Management Inc. now owns 89,373 shares of the medical technology company’s stock worth $8,046,000 after purchasing an additional 1,116 shares during the period. Finally, RPG Investment Advisory LLC grew its stake in shares of Medtronic by 1.6% during the 3rd quarter. RPG Investment Advisory LLC now owns 152,021 shares of the medical technology company’s stock worth $13,686,000 after purchasing an additional 2,410 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MDT. Wells Fargo & Company raised their price objective on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Citigroup raised their price objective on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Barclays raised their price objective on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Finally, Truist Financial increased their target price on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $95.36.

Medtronic Trading Down 0.4 %

Shares of MDT stock opened at $87.98 on Thursday. The stock’s fifty day moving average is $89.59 and its two-hundred day 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. The firm has a market capitalization of $112.83 billion, a P/E ratio of 29.72, a PEG ratio of 2.52 and a beta of 0.84. Medtronic plc has a fifty-two week low of $72.08 and a fifty-two week high of $92.68.

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

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.