Reynders McVeigh Capital Management LLC Sells 3,528 Shares of Medtronic plc (NYSE:MDT)

Reynders McVeigh Capital Management LLC decreased its holdings in Medtronic plc (NYSE:MDT) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 220,151 shares of the medical technology company’s stock after selling 3,528 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in Medtronic were worth $19,820,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Polar Asset Management Partners Inc. acquired a new position in shares of Medtronic in the 3rd quarter valued at approximately $20,599,000. Morse Asset Management Inc acquired a new position in shares of Medtronic in the 3rd quarter valued at approximately $225,000. IHT Wealth Management LLC raised its position in shares of Medtronic by 34.2% in the 3rd quarter. IHT Wealth Management LLC now owns 27,145 shares of the medical technology company’s stock valued at $2,444,000 after buying an additional 6,917 shares in the last quarter. Ingalls & Snyder LLC raised its position in shares of Medtronic by 31.5% in the 3rd quarter. Ingalls & Snyder LLC now owns 29,198 shares of the medical technology company’s stock valued at $2,629,000 after buying an additional 6,989 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its position in shares of Medtronic by 2.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 48,248 shares of the medical technology company’s stock valued at $4,344,000 after buying an additional 1,248 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

MDT opened at $85.71 on Wednesday. The firm has a market cap of $109.91 billion, a P/E ratio of 26.21, a PEG ratio of 2.45 and a beta of 0.82. The firm has a 50-day moving average of $88.54 and a 200 day moving average of $85.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week 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 for the quarter, beating the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. On average, research analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Evercore ISI boosted their target price on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Robert W. Baird reduced their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Finally, Stifel Nicolaus boosted their target price on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $95.27.

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.