MAI Capital Management Has $5.27 Million Position in Medtronic plc (NYSE:MDT)

by · The Markets Daily

MAI Capital Management lowered its holdings in shares of Medtronic plc (NYSE:MDT – Free Report) by 12.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 58,506 shares of the medical technology company’s stock after selling 8,284 shares during the period. MAI Capital Management’s holdings in Medtronic were worth $5,267,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic during the third quarter worth approximately $27,000. Lynx Investment Advisory bought a new stake in Medtronic during the 2nd quarter valued at $28,000. Gleason Group Inc. acquired a new position in shares of Medtronic during the second quarter valued at about $42,000. Finally, Opal Wealth Advisors LLC bought a new position in Medtronic in the 2nd quarter valued at about $43,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

Shares of MDT stock opened at $85.01 on Wednesday. The firm’s 50 day moving average is $89.30 and its 200 day moving average is $84.84. The stock has a market capitalization of $109.02 billion, a P/E ratio of 28.72, a PEG ratio of 2.50 and a beta of 0.84. Medtronic plc has a 12 month low of $74.66 and a 12 month high of $92.68. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT – Get Free Report) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the company earned $1.25 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Barclays increased their price objective on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Oppenheimer boosted their target price on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. Finally, Piper Sandler lifted their price target on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and an average price target of $95.80.

Read Our Latest Stock Report on MDT

Medtronic Company Profile

(Free Report)

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.

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