3,941 Shares in Medtronic plc (NYSE:MDT) Acquired by Creekside Partners

Creekside Partners bought a new stake in Medtronic plc (NYSE:MDT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,941 shares of the medical technology company’s stock, valued at approximately $355,000.

Other large investors also recently added to or reduced their stakes in the company. Olstein Capital Management L.P. grew its holdings in Medtronic by 19.2% in the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after buying an additional 14,000 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Medtronic in the 2nd quarter valued at $25,643,000. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Medtronic in the 3rd quarter valued at $9,486,000. Harvest Portfolios Group Inc. lifted its stake in shares of Medtronic by 6.5% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock valued at $62,042,000 after purchasing an additional 42,112 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Medtronic by 6.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 368,682 shares of the medical technology company’s stock valued at $29,019,000 after purchasing an additional 21,995 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Robert W. Baird decreased their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday. Piper Sandler upped their price target on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Citigroup increased their target price on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Finally, Barclays increased their target price on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $95.19.

Medtronic Price Performance

MDT stock opened at $84.11 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.61. The firm has a market capitalization of $107.87 billion, a P/E ratio of 25.72, a P/E/G ratio of 2.42 and a beta of 0.84. The business’s 50-day moving average is $89.17 and its two-hundred day moving average is $84.84. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the company earned $1.25 EPS. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

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.