Mizuho Securities USA LLC Sells 19,214 Shares of Medtronic plc (NYSE:MDT)

Mizuho Securities USA LLC trimmed its position in Medtronic plc (NYSE:MDT) by 18.8% in the 3rd quarter, Holdings Channel reports. The firm owned 83,170 shares of the medical technology company’s stock after selling 19,214 shares during the quarter. Mizuho Securities USA LLC’s holdings in Medtronic were worth $7,488,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Lake Street Advisors Group LLC bought a new stake in shares of Medtronic during the 1st quarter worth $498,000. CreativeOne Wealth LLC lifted its stake in Medtronic by 31.3% in the first quarter. CreativeOne Wealth LLC now owns 5,456 shares of the medical technology company’s stock worth $475,000 after purchasing an additional 1,300 shares during the last quarter. Freestone Capital Holdings LLC lifted its stake in Medtronic by 3.0% in the first quarter. Freestone Capital Holdings LLC now owns 24,350 shares of the medical technology company’s stock worth $2,122,000 after purchasing an additional 708 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in Medtronic by 8.7% in the first quarter. Axxcess Wealth Management LLC now owns 27,536 shares of the medical technology company’s stock worth $2,400,000 after purchasing an additional 2,194 shares during the last quarter. Finally, Envoi LLC bought a new stake in Medtronic in the first quarter worth $26,145,000. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on MDT shares. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday. Truist Financial boosted their price objective on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, October 14th. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Robert W. Baird decreased their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Sanford C. Bernstein boosted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Medtronic presently has a consensus rating of “Hold” and an average target price of $95.19.

Medtronic Trading Down 1.0 %

Shares of NYSE MDT opened at $84.11 on Thursday. The firm’s 50 day moving average price is $89.17 and its 200-day moving average price is $84.84. The company has a market cap of $107.87 billion, a PE ratio of 25.72, a P/E/G ratio of 2.42 and a beta of 0.84. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, equities research analysts expect that Medtronic plc will post 5.46 EPS 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.