Strategy Asset Managers LLC Has $3.33 Million Holdings in Medtronic plc (NYSE:MDT)

Strategy Asset Managers LLC lessened its position in shares of Medtronic plc (NYSE:MDT) by 19.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,933 shares of the medical technology company’s stock after selling 8,685 shares during the period. Strategy Asset Managers LLC’s holdings in Medtronic were worth $3,325,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of MDT. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic in the third quarter valued at approximately $27,000. Lynx Investment Advisory bought a new position in shares of Medtronic during the 2nd quarter worth approximately $28,000. Gleason Group Inc. acquired a new stake in shares of Medtronic during the 2nd quarter worth approximately $42,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Medtronic in the 2nd quarter valued at $43,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday. Oppenheimer upped their price target on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. Barclays raised their price objective on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial upped their target price on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average target price of $95.80.

Medtronic Stock Down 2.9 %

Medtronic stock opened at $85.01 on Wednesday. Medtronic plc has a fifty-two week low of $74.66 and a fifty-two week high of $92.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The firm’s 50-day simple moving average is $89.30 and its 200 day simple moving average is $84.84. The stock has a market cap of $109.02 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 2.50 and a beta of 0.84.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 EPS. Research analysts predict that Medtronic plc will post 5.44 EPS for the current fiscal year.

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.