5,959 Shares in Medtronic plc (NYSE:MDT) Acquired by Kestra Investment Management LLC

Kestra Investment Management LLC purchased a new position in shares of Medtronic plc (NYSE:MDT) in the third quarter, Holdings Channel reports. The fund purchased 5,959 shares of the medical technology company’s stock, valued at approximately $536,000.

Other large investors have also made changes to their positions in the company. First Hawaiian Bank raised its stake in shares of Medtronic by 3.2% during the 2nd quarter. First Hawaiian Bank now owns 18,409 shares of the medical technology company’s stock valued at $1,449,000 after buying an additional 571 shares during the last quarter. Mather Group LLC. grew its holdings in Medtronic by 6.3% during the second quarter. Mather Group LLC. now owns 3,304 shares of the medical technology company’s stock worth $288,000 after acquiring an additional 197 shares during the period. Lynx Investment Advisory purchased a new position in Medtronic during the second quarter valued at approximately $28,000. Value Partners Investments Inc. lifted its holdings in Medtronic by 6.2% in the second quarter. Value Partners Investments Inc. now owns 86,389 shares of the medical technology company’s stock valued at $6,800,000 after acquiring an additional 5,006 shares during the period. Finally, Olistico Wealth LLC purchased a new stake in Medtronic in the 2nd quarter worth approximately $45,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

MDT stock opened at $86.54 on Monday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The firm has a market capitalization of $110.97 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.45 and a beta of 0.84. The business has a 50 day simple moving average of $88.69 and a 200-day simple moving average of $85.00.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.25 EPS. Equities research 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 subject of several analyst reports. Wells Fargo & Company decreased their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Truist Financial increased their target price on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Barclays increased their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Oppenheimer boosted their price objective on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $95.27.

About Medtronic

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.