Mizuho Markets Americas LLC Sells 5,904 Shares of Medtronic plc (NYSE:MDT)

Mizuho Markets Americas LLC lessened its holdings in Medtronic plc (NYSE:MDT) by 7.7% during the third quarter, HoldingsChannel reports. The firm owned 70,527 shares of the medical technology company’s stock after selling 5,904 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Medtronic were worth $6,350,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Fortitude Family Office LLC acquired a new position in Medtronic in the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic in the third quarter valued at $27,000. Lynx Investment Advisory bought a new stake in Medtronic in the 2nd quarter valued at about $28,000. Gleason Group Inc. bought a new stake in shares of Medtronic during the second quarter valued at approximately $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in Medtronic during the second quarter worth $43,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MDT shares. Robert W. Baird increased their price objective on Medtronic from $90.00 to $96.00 in a research note on Friday. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Barclays upped their price target on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Evercore ISI upped their price target on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Stifel Nicolaus raised their target price on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $95.80.

Medtronic Stock Performance

NYSE:MDT opened at $87.53 on Friday. The company has a market capitalization of $112.25 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 2.51 and a beta of 0.84. The business has a 50 day moving average of $89.48 and a 200 day moving average of $84.71. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. Medtronic plc has a 1-year low of $74.20 and a 1-year high of $92.68.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 earnings per share. On average, sell-side analysts predict that Medtronic plc will post 5.44 earnings per share 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.