Aberdeen Wealth Management LLC Has $1.18 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Aberdeen Wealth Management LLC decreased its position in Medtronic plc (NYSE:MDT) by 8.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,129 shares of the medical technology company’s stock after selling 1,151 shares during the period. Aberdeen Wealth Management LLC’s holdings in Medtronic were worth $1,182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in shares of Medtronic by 7.1% in the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after purchasing an additional 2,044,109 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Medtronic by 1,195.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock worth $144,637,000 after buying an additional 1,695,800 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Medtronic by 8,908.6% in the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock valued at $116,896,000 after buying an additional 1,284,002 shares during the period. Troy Asset Management Ltd bought a new position in Medtronic in the second quarter valued at approximately $85,440,000. Finally, 1832 Asset Management L.P. grew its holdings in Medtronic by 26.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 4,915,609 shares of the medical technology company’s stock worth $386,908,000 after acquiring an additional 1,041,863 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Up 0.1 %

Shares of NYSE:MDT opened at $87.64 on Tuesday. The firm has a market cap of $112.39 billion, a price-to-earnings ratio of 29.61, a PEG ratio of 2.50 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. Medtronic plc has a 12 month low of $74.66 and a 12 month high of $92.68. The company’s fifty day simple moving average is $89.42 and its 200 day simple moving average is $84.82.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 earnings per share. As a group, research analysts forecast that Medtronic plc will post 5.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MDT shares. Citigroup raised their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Truist Financial increased their target price on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Wells Fargo & Company boosted their target price on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and increased their price target for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Medtronic has an average rating of “Hold” and an average price target of $95.80.

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.