Medtronic plc (NYSE:MDT) Stock Holdings Lessened by Cypress Capital Group

Cypress Capital Group reduced its holdings in Medtronic plc (NYSE:MDT) by 44.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,874 shares of the medical technology company’s stock after selling 5,599 shares during the quarter. Cypress Capital Group’s holdings in Medtronic were worth $549,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Mainstream Capital Management LLC bought a new position in shares of Medtronic in the 4th quarter worth about $26,000. Commerzbank Aktiengesellschaft FI boosted its stake in Medtronic by 99.8% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 22,072 shares of the medical technology company’s stock valued at $1,758,000 after purchasing an additional 11,023 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Medtronic by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,002,051 shares of the medical technology company’s stock valued at $639,204,000 after purchasing an additional 134,647 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in Medtronic by 10.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 228,560 shares of the medical technology company’s stock valued at $18,257,000 after purchasing an additional 21,244 shares during the period. Finally, Schechter Investment Advisors LLC boosted its stake in Medtronic by 48.0% during the 4th quarter. Schechter Investment Advisors LLC now owns 6,942 shares of the medical technology company’s stock valued at $555,000 after purchasing an additional 2,252 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

Shares of MDT opened at $94.15 on Thursday. The company’s 50 day moving average price is $87.82 and its 200 day moving average price is $87.68. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $95.57. The company has a market capitalization of $120.75 billion, a PE ratio of 28.62, a PEG ratio of 2.22 and a beta of 0.84. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MDT shares. Robert W. Baird boosted their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Sanford C. Bernstein boosted their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, UBS Group boosted their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average price target of $96.07.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

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.