Medtronic plc (NYSE:MDT) Shares Acquired by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC increased its position in Medtronic plc (NYSE:MDT) by 10.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,450 shares of the medical technology company’s stock after purchasing an additional 1,619 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Medtronic were worth $1,481,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Oak Harbor Wealth Partners LLC grew its stake in shares of Medtronic by 7.3% during the third quarter. Oak Harbor Wealth Partners LLC now owns 27,408 shares of the medical technology company’s stock valued at $2,468,000 after acquiring an additional 1,869 shares in the last quarter. Ferguson Wellman Capital Management Inc. purchased a new position in Medtronic in the third quarter valued at about $9,486,000. Sivik Global Healthcare LLC acquired a new stake in Medtronic during the 3rd quarter valued at approximately $5,402,000. Metis Global Partners LLC grew its stake in Medtronic by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 54,238 shares of the medical technology company’s stock valued at $4,883,000 after purchasing an additional 759 shares in the last quarter. Finally, Curi RMB Capital LLC purchased a new stake in Medtronic during the 3rd quarter worth approximately $521,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MDT. Stifel Nicolaus increased their target price on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. reduced their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday. Piper Sandler boosted their target price on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Wells Fargo & Company increased their price target on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. One research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $95.80.

Medtronic Stock Performance

MDT stock opened at $87.53 on Monday. Medtronic plc has a 1 year low of $74.20 and a 1 year high of $92.68. The stock has a market capitalization of $112.25 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 2.50 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The stock’s fifty day moving average is $89.48 and its two-hundred day moving average is $84.77.

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