Medtronic plc (NYSE:MDT) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC decreased its position in Medtronic plc (NYSE:MDT) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,803 shares of the medical technology company’s stock after selling 4,129 shares during the quarter. Pathstone Holdings LLC’s holdings in Medtronic were worth $11,333,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the third quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic during the third quarter worth approximately $27,000. Lynx Investment Advisory acquired a new stake in shares of Medtronic during the second quarter worth approximately $28,000. Gleason Group Inc. acquired a new stake in shares of Medtronic during the second quarter worth approximately $42,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Medtronic during the second quarter worth approximately $43,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of several research analyst reports. Barclays raised their price objective on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Oppenheimer raised their price objective on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Sanford C. Bernstein raised their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Truist Financial raised 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. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic has an average rating of “Hold” and an average target price of $95.19.

Medtronic Price Performance

Shares of NYSE MDT opened at $84.11 on Thursday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The firm’s 50-day simple moving average is $89.17 and its 200 day simple moving average is $84.84. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The stock has a market cap of $107.87 billion, a P/E ratio of 25.72, a P/E/G ratio of 2.50 and a beta of 0.84.

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