Carmel Capital Partners LLC Has $285,000 Position in Medtronic plc (NYSE:MDT)

Carmel Capital Partners LLC raised its holdings in Medtronic plc (NYSE:MDT) by 12.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,570 shares of the medical technology company’s stock after acquiring an additional 400 shares during the quarter. Carmel Capital Partners LLC’s holdings in Medtronic were worth $285,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. Guardian Wealth Management Inc. grew its position in shares of Medtronic by 0.9% in the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after acquiring an additional 115 shares during the period. MONECO Advisors LLC grew its position in shares of Medtronic by 1.8% in the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock valued at $512,000 after acquiring an additional 115 shares during the period. First City Capital Management Inc. grew its position in shares of Medtronic by 2.9% in the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock valued at $371,000 after acquiring an additional 116 shares during the period. Hardy Reed LLC grew its position in shares of Medtronic by 4.4% in the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after acquiring an additional 116 shares during the period. Finally, OLD Second National Bank of Aurora grew its position in shares of Medtronic by 0.3% in the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company’s stock valued at $2,900,000 after acquiring an additional 121 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on MDT shares. Wells Fargo & Company decreased their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Barclays lifted their price objective 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. Robert W. Baird lifted their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Finally, UBS Group lifted 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 issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus price target of $96.07.

Medtronic Stock Performance

NYSE MDT opened at $94.15 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $120.75 billion, a P/E ratio of 28.62, a P/E/G ratio of 2.22 and a beta of 0.84. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $95.57. The firm has a 50-day moving average price of $87.82 and a two-hundred day moving average price of $87.68.

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

Insider Activity

In other news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.