Benjamin Edwards Inc. Buys 228,651 Shares of Medtronic plc (NYSE:MDT)

Benjamin Edwards Inc. increased its position in Medtronic plc (NYSE:MDT) by 2,775.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 236,888 shares of the medical technology company’s stock after acquiring an additional 228,651 shares during the quarter. Benjamin Edwards Inc.’s holdings in Medtronic were worth $21,327,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MDT. Clear Harbor Asset Management LLC boosted its holdings in Medtronic by 1.2% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after purchasing an additional 111 shares during the period. First PREMIER Bank raised its position in shares of Medtronic by 1.8% in the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock worth $577,000 after buying an additional 116 shares in the last quarter. First City Capital Management Inc. boosted its stake in Medtronic by 2.9% during the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock valued at $371,000 after buying an additional 116 shares during the period. Hardy Reed LLC grew its position in Medtronic by 4.4% during the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after buying an additional 116 shares in the last quarter. Finally, Precision Wealth Strategies LLC increased its stake in Medtronic by 3.3% in the 3rd quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock worth $337,000 after acquiring an additional 118 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

Shares of NYSE:MDT opened at $86.54 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The company has a market cap of $110.97 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.45 and a beta of 0.84. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The company has a 50-day moving average price of $88.69 and a 200-day moving average price of $85.00.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the business posted $1.25 EPS. The business’s revenue was up 5.2% on a year-over-year basis. As a group, equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Evercore ISI lifted their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Barclays lifted their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Truist Financial increased their price target on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Citigroup raised their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. One 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $95.27.

Medtronic Company 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.