OneDigital Investment Advisors LLC Grows Stake in Medtronic plc (NYSE:MDT)

OneDigital Investment Advisors LLC boosted its position in shares of Medtronic plc (NYSE:MDT) by 10.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,450 shares of the medical technology company’s stock after purchasing an additional 1,619 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Medtronic were worth $1,481,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital Research Global Investors grew its stake in Medtronic by 7.1% in the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after acquiring an additional 2,044,109 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of Medtronic by 8.3% in the second quarter. Pzena Investment Management LLC now owns 8,307,123 shares of the medical technology company’s stock valued at $653,854,000 after purchasing an additional 637,931 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Medtronic by 7.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock worth $560,494,000 after purchasing an additional 515,751 shares in the last quarter. Longview Partners Guernsey LTD raised its position in shares of Medtronic by 2.3% during the 1st quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company’s stock worth $578,245,000 after purchasing an additional 147,737 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in Medtronic by 2.3% during the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock valued at $575,460,000 after buying an additional 145,504 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE MDT opened at $87.53 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. Medtronic plc has a 1-year low of $74.20 and a 1-year high of $92.68. The firm has a market capitalization of $112.25 billion, a P/E ratio of 29.57, a P/E/G ratio of 2.50 and a beta of 0.84. The business’s 50-day simple moving average is $89.48 and its 200-day simple moving average is $84.77.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. During the same period in the previous year, the company posted $1.20 earnings per share. Medtronic’s revenue was up 3.4% compared to the same quarter last year. Equities analysts predict that Medtronic plc will post 5.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MDT. Piper Sandler boosted their price target on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Barclays lifted their price target on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $95.80.

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.