Nixon Peabody Trust Co. Purchases 690 Shares of Medtronic plc (NYSE:MDT)

Nixon Peabody Trust Co. grew its position in Medtronic plc (NYSE:MDT) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,939 shares of the medical technology company’s stock after acquiring an additional 690 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Medtronic were worth $11,698,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Clear Harbor Asset Management LLC boosted its holdings in Medtronic by 1.2% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after purchasing an additional 111 shares during the period. First PREMIER Bank raised its position in shares of Medtronic by 1.8% in the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after buying an additional 116 shares in the last quarter. Precision Wealth Strategies LLC boosted its stake in shares of Medtronic by 3.3% in the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock valued at $337,000 after buying an additional 118 shares during the period. Lake Street Advisors Group LLC grew its position in Medtronic by 2.0% during the third quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock worth $547,000 after buying an additional 118 shares in the last quarter. Finally, Sigma Planning Corp increased its stake in Medtronic by 0.4% during the 3rd quarter. Sigma Planning Corp now owns 28,843 shares of the medical technology company’s stock worth $2,597,000 after acquiring an additional 124 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MDT shares. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Barclays increased their price objective on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial upped their price target on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Citigroup lifted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Finally, Robert W. Baird upped their target price on Medtronic from $90.00 to $96.00 in a research note on Friday. One equities research 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $95.80.

Medtronic Trading Up 0.5 %

NYSE MDT traded up $0.46 during trading hours on Monday, reaching $87.99. The company’s stock had a trading volume of 379,971 shares, compared to its average volume of 6,199,193. Medtronic plc has a 52 week low of $74.66 and a 52 week high of $92.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The stock has a market cap of $112.84 billion, a P/E ratio of 29.57, a P/E/G ratio of 2.50 and a beta of 0.84. The firm has a fifty day simple moving average of $89.48 and a 200-day simple moving average of $84.77.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. Medtronic’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 earnings per share. Equities analysts forecast 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.