Medtronic plc (NYSE:MDT) Shares Acquired by CreativeOne Wealth LLC

CreativeOne Wealth LLC grew its stake in Medtronic plc (NYSE:MDT) by 279.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,672 shares of the medical technology company’s stock after purchasing an additional 15,225 shares during the period. CreativeOne Wealth LLC’s holdings in Medtronic were worth $1,861,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MDT. iA Global Asset Management Inc. acquired a new position in shares of Medtronic in the first quarter valued at approximately $513,000. Citizens Financial Group Inc. RI increased its holdings in shares of Medtronic by 15.4% in the first quarter. Citizens Financial Group Inc. RI now owns 3,518 shares of the medical technology company’s stock valued at $307,000 after purchasing an additional 470 shares during the period. Cetera Advisors LLC grew its holdings in Medtronic by 63.3% during the first quarter. Cetera Advisors LLC now owns 83,977 shares of the medical technology company’s stock worth $7,319,000 after acquiring an additional 32,564 shares during the period. Cetera Advisor Networks LLC grew its holdings in Medtronic by 4.5% during the first quarter. Cetera Advisor Networks LLC now owns 252,106 shares of the medical technology company’s stock worth $21,971,000 after acquiring an additional 10,890 shares during the period. Finally, Cambridge Trust Co. grew its holdings in Medtronic by 4.3% during the first quarter. Cambridge Trust Co. now owns 19,936 shares of the medical technology company’s stock worth $1,737,000 after acquiring an additional 813 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MDT. Stifel Nicolaus upped their price objective on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Daiwa America raised Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Truist Financial upped their price objective on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $95.27.

Medtronic Stock Up 0.7 %

Shares of NYSE:MDT opened at $86.27 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The stock’s fifty day simple moving average is $88.75 and its 200-day simple moving average is $84.97. The company has a market capitalization of $110.62 billion, a P/E ratio of 26.38, a P/E/G ratio of 2.44 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 (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the prior year, the business earned $1.25 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts forecast that Medtronic plc will post 5.46 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.