Leelyn Smith LLC Boosts Stake in Medtronic plc (NYSE:MDT)

Leelyn Smith LLC raised its stake in shares of Medtronic plc (NYSE:MDT) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,890 shares of the medical technology company’s stock after buying an additional 606 shares during the quarter. Leelyn Smith LLC’s holdings in Medtronic were worth $2,511,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. CreativeOne Wealth LLC lifted its holdings in Medtronic by 31.3% in the 1st quarter. CreativeOne Wealth LLC now owns 5,456 shares of the medical technology company’s stock valued at $475,000 after purchasing an additional 1,300 shares in the last quarter. Kestra Advisory Services LLC boosted its position in Medtronic by 17.1% during the first quarter. Kestra Advisory Services LLC now owns 148,211 shares of the medical technology company’s stock worth $12,917,000 after acquiring an additional 21,594 shares during the last quarter. Bellevue Group AG grew its stake in Medtronic by 3.7% in the 1st quarter. Bellevue Group AG now owns 1,007,000 shares of the medical technology company’s stock worth $87,760,000 after acquiring an additional 36,228 shares during the period. Mount Yale Investment Advisors LLC grew its stake in Medtronic by 2.6% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 7,227 shares of the medical technology company’s stock worth $630,000 after acquiring an additional 180 shares during the period. Finally, QVR LLC acquired a new position in Medtronic in the 1st quarter valued at $437,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the topic of several analyst reports. Sanford C. Bernstein raised their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Piper Sandler upped their price objective on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Wells Fargo & Company cut their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Robert W. Baird lowered their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday. One research 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 stock. According to MarketBeat.com, Medtronic has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Stock Performance

Medtronic stock opened at $86.21 on Friday. The firm has a market capitalization of $110.56 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.40 and a beta of 0.84. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The stock’s 50 day moving average price is $88.99 and its 200 day moving average price is $84.87. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 earnings per share. As a group, sell-side analysts expect that Medtronic plc will post 5.46 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.