STAR Financial Bank Decreases Stock Position in Medtronic plc (NYSE:MDT)

STAR Financial Bank lessened its position in shares of Medtronic plc (NYSE:MDT) by 10.5% during the third quarter, Holdings Channel reports. The institutional investor owned 3,075 shares of the medical technology company’s stock after selling 361 shares during the quarter. STAR Financial Bank’s holdings in Medtronic were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lake Street Advisors Group LLC bought a new position in Medtronic during the first quarter worth about $498,000. CreativeOne Wealth LLC lifted its stake in shares of Medtronic by 31.3% during the 1st quarter. CreativeOne Wealth LLC now owns 5,456 shares of the medical technology company’s stock valued at $475,000 after buying an additional 1,300 shares in the last quarter. Freestone Capital Holdings LLC boosted its holdings in Medtronic by 3.0% in the 1st quarter. Freestone Capital Holdings LLC now owns 24,350 shares of the medical technology company’s stock worth $2,122,000 after buying an additional 708 shares during the period. Axxcess Wealth Management LLC boosted its holdings in Medtronic by 8.7% in the 1st quarter. Axxcess Wealth Management LLC now owns 27,536 shares of the medical technology company’s stock worth $2,400,000 after buying an additional 2,194 shares during the period. Finally, Envoi LLC purchased a new position in Medtronic in the 1st quarter valued at approximately $26,145,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 1.0 %

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

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

Analyst Upgrades and Downgrades

MDT has been the subject of a number of analyst reports. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Citigroup increased their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Evercore ISI boosted their price objective 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, Piper Sandler increased their target price on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $95.19.

About Medtronic

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.