D.A. Davidson & CO. Sells 2,501 Shares of Medtronic plc (NYSE:MDT)

D.A. Davidson & CO. lowered its stake in shares of Medtronic plc (NYSE:MDT) by 1.2% in the third quarter, Holdings Channel reports. The institutional investor owned 214,067 shares of the medical technology company’s stock after selling 2,501 shares during the period. D.A. Davidson & CO.’s holdings in Medtronic were worth $19,272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MDT. Dai ichi Life Insurance Company Ltd boosted its position in Medtronic by 21.6% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 45,096 shares of the medical technology company’s stock valued at $4,060,000 after purchasing an additional 8,000 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Medtronic by 29.1% during the third quarter. The Manufacturers Life Insurance Company now owns 3,252,181 shares of the medical technology company’s stock valued at $292,794,000 after buying an additional 732,753 shares during the last quarter. Qsemble Capital Management LP boosted its holdings in shares of Medtronic by 15.9% in the 3rd quarter. Qsemble Capital Management LP now owns 52,816 shares of the medical technology company’s stock valued at $4,755,000 after buying an additional 7,257 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Medtronic by 65.0% in the 3rd quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock valued at $406,122,000 after buying an additional 1,790,483 shares in the last quarter. Finally, Associated Banc Corp grew its position in shares of Medtronic by 12.1% in the 3rd quarter. Associated Banc Corp now owns 171,778 shares of the medical technology company’s stock worth $15,465,000 after buying an additional 18,542 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of MDT opened at $85.75 on Tuesday. The business’s 50-day moving average is $88.91 and its two-hundred day moving average is $84.93. The company has a market capitalization of $109.97 billion, a P/E ratio of 26.22, a P/E/G ratio of 2.44 and a beta of 0.84. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. 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 posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. Research analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MDT shares. Evercore ISI raised their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Sanford C. Bernstein boosted their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Piper Sandler increased their price target 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 upgraded Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, 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 report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus target price of $95.00.

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.