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

Metis Global Partners LLC lifted its position in shares of Medtronic plc (NYSE:MDT) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,238 shares of the medical technology company’s stock after acquiring an additional 759 shares during the period. Metis Global Partners LLC’s holdings in Medtronic were worth $4,883,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in shares of Medtronic in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic in the third quarter valued at about $27,000. Lynx Investment Advisory bought a new position in Medtronic in the second quarter valued at about $28,000. Gleason Group Inc. acquired a new position in Medtronic during the second quarter worth about $42,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Medtronic in the second quarter worth about $43,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of a number of research analyst reports. Truist Financial upped their price objective on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Wells Fargo & Company upped their price target on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Barclays raised their price objective on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Evercore ISI upped their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Oppenheimer lifted their price target on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $95.36.

Medtronic Trading Down 2.3 %

MDT opened at $85.97 on Friday. Medtronic plc has a twelve month low of $72.79 and a twelve month high of $92.68. The company has a fifty day moving average of $89.59 and a 200-day moving average of $84.66. The stock has a market cap 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 has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55.

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