River Street Advisors LLC Has $1.07 Million Position in Medtronic plc (NYSE:MDT)

River Street Advisors LLC lifted its stake in shares of Medtronic plc (NYSE:MDT) by 1.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,894 shares of the medical technology company’s stock after acquiring an additional 173 shares during the period. River Street Advisors LLC’s holdings in Medtronic were worth $1,071,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clear Harbor Asset Management LLC lifted its stake in shares of Medtronic by 1.2% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after purchasing an additional 111 shares during the last quarter. First PREMIER Bank grew its holdings in Medtronic by 1.8% during the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock worth $577,000 after acquiring an additional 116 shares during the period. Precision Wealth Strategies LLC grew its holdings in Medtronic by 3.3% in the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock valued at $337,000 after purchasing an additional 118 shares during the period. Lake Street Advisors Group LLC lifted its position in shares of Medtronic by 2.0% in the third quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock valued at $547,000 after acquiring an additional 118 shares in the last quarter. Finally, Sigma Planning Corp lifted its position in shares of Medtronic by 0.4% in the third quarter. Sigma Planning Corp now owns 28,843 shares of the medical technology company’s stock valued at $2,597,000 after acquiring an additional 124 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Up 1.8 %

Shares of MDT traded up $1.53 during mid-day trading on Friday, reaching $87.53. The company’s stock had a trading volume of 7,952,317 shares, compared to its average volume of 6,225,400. 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 plc has a 1 year low of $74.20 and a 1 year high of $92.68. The business has a fifty day moving average of $89.48 and a 200 day moving average of $84.71. The company has a market cap of $112.25 billion, a price-to-earnings ratio of 29.57, a price-to-earnings-growth ratio of 2.51 and a beta of 0.84.

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

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Robert W. Baird lifted their target price on Medtronic from $90.00 to $96.00 in a research report on Friday. Evercore ISI upped their price objective on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company boosted their target price on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Citigroup upped their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Finally, Truist Financial boosted their target price on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and an average target price of $95.80.

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.