Captrust Financial Advisors Sells 13,977 Shares of Medtronic plc (NYSE:MDT)

Captrust Financial Advisors decreased its holdings in Medtronic plc (NYSE:MDT) by 12.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 101,390 shares of the medical technology company’s stock after selling 13,977 shares during the quarter. Captrust Financial Advisors’ holdings in Medtronic were worth $9,128,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Pzena Investment Management LLC grew its position in shares of Medtronic by 3.3% during the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock valued at $772,727,000 after acquiring an additional 275,870 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Medtronic by 436.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock valued at $661,125,000 after purchasing an additional 5,975,110 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Medtronic by 7.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock valued at $560,494,000 after purchasing an additional 515,751 shares during the period. Raymond James & Associates increased its position in Medtronic by 2.3% in the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock worth $575,460,000 after buying an additional 145,504 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Medtronic by 11.5% in the third quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company’s stock worth $530,612,000 after buying an additional 609,391 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Medtronic Trading Up 0.3 %

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

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $1.25 EPS. Sell-side analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays boosted their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Wells Fargo & Company reduced their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and upped their target price for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Finally, Piper Sandler raised their price target on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.