Medtronic plc (NYSE:MDT) Shares Bought by Leelyn Smith LLC

Leelyn Smith LLC grew its stake in Medtronic plc (NYSE:MDT) by 2.2% during the third quarter, HoldingsChannel.com reports. The firm owned 27,890 shares of the medical technology company’s stock after purchasing an additional 606 shares during the period. Leelyn Smith LLC’s holdings in Medtronic were worth $2,511,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MDT. Pzena Investment Management LLC increased its stake in Medtronic by 3.3% during the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock valued at $772,727,000 after purchasing an additional 275,870 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Medtronic by 7.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock valued at $560,494,000 after buying an additional 515,751 shares during the period. Raymond James & Associates grew its position in shares of Medtronic by 2.3% during the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock valued at $575,460,000 after buying an additional 145,504 shares during the last quarter. 1832 Asset Management L.P. raised its stake in Medtronic by 26.9% during the second 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. Finally, Bank of Montreal Can raised its position in shares of Medtronic by 0.8% during the 2nd quarter. Bank of Montreal Can now owns 2,756,336 shares of the medical technology company’s stock worth $234,068,000 after purchasing an additional 22,240 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of a number of recent research reports. Truist Financial upped their price objective on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Stifel Nicolaus upped their price target on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. dropped their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Barclays boosted their target price on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company cut their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic has an average rating of “Hold” and an average target price of $95.00.

Medtronic Stock Up 1.7 %

Shares of MDT stock opened at $86.21 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.84. The stock has a market cap of $110.56 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.40 and a beta of 0.84. The business’s fifty day moving average is $88.99 and its 200-day moving average is $84.87. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the company earned $1.25 earnings per share. Medtronic’s revenue was up 5.2% compared to the same quarter last year. Equities analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

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.