Medtronic plc (NYSE:MDT) Shares Acquired by Natixis Advisors LLC

Natixis Advisors LLC increased its holdings in shares of Medtronic plc (NYSE:MDT) by 13.3% during the third quarter, Holdings Channel.com reports. The fund owned 1,344,210 shares of the medical technology company’s stock after buying an additional 158,299 shares during the period. Natixis Advisors LLC’s holdings in Medtronic were worth $121,019,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Fortitude Family Office LLC purchased a new stake in shares of Medtronic in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic during the third quarter valued at $27,000. Lynx Investment Advisory acquired a new stake in shares of Medtronic in the second quarter valued at about $28,000. Gleason Group Inc. purchased a new stake in shares of Medtronic during the second quarter worth about $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Medtronic during the 2nd quarter worth about $43,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 1.8 %

MDT stock opened at $87.53 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $112.25 billion, a P/E ratio of 29.57, a PEG ratio of 2.51 and a beta of 0.84. Medtronic plc has a twelve month low of $74.20 and a twelve month high of $92.68. The firm has a 50 day simple moving average of $89.48 and a 200-day simple moving average of $84.71.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. During the same quarter last year, the company earned $1.20 EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities research analysts predict that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MDT has been the subject of several research reports. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Piper Sandler increased their price objective on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Barclays increased their target price on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Truist Financial upped their price objective on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.