Transamerica Financial Advisors Inc. Acquires 815 Shares of Medtronic plc (NYSE:MDT)

Transamerica Financial Advisors Inc. lifted its stake in Medtronic plc (NYSE:MDT) by 12.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,586 shares of the medical technology company’s stock after purchasing an additional 815 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Medtronic were worth $683,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Bank of Montreal Can lifted its position in shares of Medtronic by 65.0% during the 3rd quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock valued at $406,122,000 after acquiring an additional 1,790,483 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Medtronic by 1,195.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock worth $144,637,000 after purchasing an additional 1,695,800 shares during the period. International Assets Investment Management LLC grew its stake in Medtronic by 8,908.6% during the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock worth $116,896,000 after buying an additional 1,284,002 shares in the last quarter. Troy Asset Management Ltd acquired a new stake in Medtronic during the second quarter worth about $85,440,000. Finally, 1832 Asset Management L.P. increased its holdings in Medtronic by 26.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 4,915,609 shares of the medical technology company’s stock valued at $386,908,000 after buying an additional 1,041,863 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Down 0.1 %

Shares of MDT opened at $85.67 on Wednesday. The stock’s 50-day moving average price is $88.85 and its two-hundred day moving average price is $84.95. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The company has a market capitalization of $109.87 billion, a PE ratio of 26.20, a PEG ratio of 2.43 and a beta of 0.84. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Truist Financial increased their price target 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. Evercore ISI raised their target price on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Piper Sandler raised 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. Finally, Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $95.27.

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.