Marco Investment Management LLC Buys 510 Shares of Medtronic plc (NYSE:MDT)

Marco Investment Management LLC boosted its position in Medtronic plc (NYSE:MDT) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,241 shares of the medical technology company’s stock after acquiring an additional 510 shares during the quarter. Marco Investment Management LLC’s holdings in Medtronic were worth $8,845,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new position in shares of Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new stake in Medtronic in the third quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new position in Medtronic during the third quarter valued at approximately $27,000. Lynx Investment Advisory purchased a new position in shares of Medtronic during the second quarter worth approximately $28,000. Finally, Gleason Group Inc. bought a new stake in shares of Medtronic in the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Barclays lifted their price objective on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer increased their target price on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. decreased their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Finally, UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and increased their price objective for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. One 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $95.00.

Medtronic Stock Up 1.7 %

Shares of Medtronic stock opened at $86.21 on Friday. The company’s fifty day simple moving average is $88.99 and its two-hundred day simple moving average is $84.89. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The company has a current ratio of 1.84, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51. The company has a market cap of $110.56 billion, a P/E ratio of 26.36, a PEG ratio of 2.40 and a beta of 0.84.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the previous year, the company earned $1.25 earnings per share. Medtronic’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

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.