First County Bank CT Has $422,000 Holdings in Medtronic plc (NYSE:MDT)

First County Bank CT decreased its stake in Medtronic plc (NYSE:MDT) by 19.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,684 shares of the medical technology company’s stock after selling 1,153 shares during the quarter. First County Bank CT’s holdings in Medtronic were worth $422,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MDT. CreativeOne Wealth LLC grew its stake in Medtronic by 31.3% during the first quarter. CreativeOne Wealth LLC now owns 5,456 shares of the medical technology company’s stock worth $475,000 after buying an additional 1,300 shares during the last quarter. Bank of Nova Scotia Trust Co. grew its position in Medtronic by 18.6% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 100,075 shares of the medical technology company’s stock worth $8,722,000 after acquiring an additional 15,705 shares during the last quarter. Magnetar Financial LLC raised its position in Medtronic by 120.2% in the 1st quarter. Magnetar Financial LLC now owns 1,394,602 shares of the medical technology company’s stock valued at $121,540,000 after purchasing an additional 761,368 shares during the last quarter. Kestra Advisory Services LLC boosted its stake in Medtronic by 17.1% in the first quarter. Kestra Advisory Services LLC now owns 148,211 shares of the medical technology company’s stock worth $12,917,000 after purchasing an additional 21,594 shares in the last quarter. Finally, Manhattan West Asset Management LLC grew its holdings in shares of Medtronic by 17.5% during the first quarter. Manhattan West Asset Management LLC now owns 28,377 shares of the medical technology company’s stock worth $2,473,000 after purchasing an additional 4,219 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 0.7 %

Shares of NYSE:MDT opened at $84.71 on Friday. The company has a 50 day moving average price of $89.07 and a two-hundred day moving average price of $84.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.84. The company has a market capitalization of $108.63 billion, a PE ratio of 25.90, a PEG ratio of 2.42 and a beta of 0.84. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the prior year, the company earned $1.25 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MDT. Sanford C. Bernstein lifted their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday. Truist Financial upped their target price on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Barclays boosted their price objective on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Stifel Nicolaus increased their price objective on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and an average target price of $95.19.

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.