Cahill Financial Advisors Inc. Raises Stake in Medtronic plc (NYSE:MDT)

Cahill Financial Advisors Inc. boosted its position in shares of Medtronic plc (NYSE:MDT) by 66.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,480 shares of the medical technology company’s stock after acquiring an additional 2,189 shares during the period. Cahill Financial Advisors Inc.’s holdings in Medtronic were worth $493,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Mount Yale Investment Advisors LLC boosted its holdings in Medtronic by 2.6% in the first quarter. Mount Yale Investment Advisors LLC now owns 7,227 shares of the medical technology company’s stock valued at $630,000 after purchasing an additional 180 shares in the last quarter. Ascent Group LLC grew its position in shares of Medtronic by 17.4% in the 1st quarter. Ascent Group LLC now owns 3,349 shares of the medical technology company’s stock valued at $292,000 after buying an additional 497 shares during the last quarter. Industrial Alliance Investment Management Inc. raised its stake in Medtronic by 4.4% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 6,315 shares of the medical technology company’s stock worth $550,000 after acquiring an additional 266 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Medtronic by 27.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 40,468 shares of the medical technology company’s stock valued at $3,527,000 after acquiring an additional 8,792 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co boosted its stake in Medtronic by 25.8% in the first quarter. Meiji Yasuda Life Insurance Co now owns 15,809 shares of the medical technology company’s stock valued at $1,378,000 after acquiring an additional 3,241 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of MDT opened at $86.21 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average is $88.99 and its two-hundred day moving average is $84.91. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The firm has a market capitalization of $110.56 billion, a PE ratio of 26.36, a P/E/G ratio of 2.44 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period last year, the firm earned $1.25 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MDT. Barclays boosted their target price on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Piper Sandler boosted 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. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and raised their target price for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Robert W. Baird reduced their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Finally, Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.