Atlantic Union Bankshares Corp Sells 3,130 Shares of Medtronic plc (NYSE:MDT)

Atlantic Union Bankshares Corp lessened its position in shares of Medtronic plc (NYSE:MDT) by 11.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 24,036 shares of the medical technology company’s stock after selling 3,130 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Medtronic were worth $2,164,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in Medtronic in the third quarter valued at $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic in the 3rd quarter worth about $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at about $27,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic during the 3rd quarter valued at about $30,000. Finally, Lynx Investment Advisory bought a new stake in shares of Medtronic during the 2nd quarter valued at about $28,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of Medtronic stock opened at $86.54 on Friday. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average price of $88.69 and a 200-day moving average price of $84.99. The company has a market cap of $110.98 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.44 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The business had revenue of $8.40 billion during 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 quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 EPS. Equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MDT has been the topic of several recent analyst reports. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and boosted their price target for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Evercore ISI boosted their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus raised their price target on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Oppenheimer upped their price objective on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Company reduced their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $95.27.

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.