Rothschild Investment LLC Acquires 631 Shares of Medtronic PLC $MDT

Rothschild Investment LLC lifted its holdings in shares of Medtronic PLC (NYSE:MDT) by 4.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,392 shares of the medical technology company’s stock after purchasing an additional 631 shares during the period. Rothschild Investment LLC’s holdings in Medtronic were worth $1,429,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of MDT. Nomura Asset Management Co. Ltd. lifted its holdings in Medtronic by 6.9% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,057,958 shares of the medical technology company’s stock worth $92,222,000 after buying an additional 68,298 shares during the period. Raiffeisen Bank International AG increased its stake in shares of Medtronic by 88.9% in the second quarter. Raiffeisen Bank International AG now owns 35,671 shares of the medical technology company’s stock valued at $3,067,000 after buying an additional 16,791 shares during the period. MTM Investment Management LLC bought a new position in shares of Medtronic during the second quarter worth about $75,000. Rockefeller Capital Management L.P. lifted its stake in shares of Medtronic by 16.1% in the second quarter. Rockefeller Capital Management L.P. now owns 595,169 shares of the medical technology company’s stock worth $51,882,000 after acquiring an additional 82,350 shares during the period. Finally, Alberta Investment Management Corp bought a new stake in Medtronic in the second quarter valued at approximately $3,452,000. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Shares of NYSE MDT opened at $96.52 on Tuesday. The firm has a market capitalization of $123.80 billion, a P/E ratio of 26.59, a P/E/G ratio of 2.42 and a beta of 0.77. The firm’s 50-day moving average price is $94.51 and its 200-day moving average price is $90.52. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period last year, the business posted $1.23 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MDT. Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a research report on Wednesday, October 8th. Truist Financial increased their price objective on shares of Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Royal Bank Of Canada reissued an “outperform” rating and set a $111.00 target price on shares of Medtronic in a research note on Friday, October 10th. Daiwa Capital Markets upped their price target on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Finally, Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.06.

Medtronic Company 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.