Natixis Advisors LLC Acquires 158,299 Shares of Medtronic plc (NYSE:MDT)

Natixis Advisors LLC grew its holdings in shares of Medtronic plc (NYSE:MDT) by 13.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,344,210 shares of the medical technology company’s stock after acquiring an additional 158,299 shares during the quarter. Natixis Advisors LLC owned about 0.10% of Medtronic worth $121,019,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nwam LLC lifted its holdings in shares of Medtronic by 3.2% in the 1st quarter. Nwam LLC now owns 4,492 shares of the medical technology company’s stock worth $371,000 after acquiring an additional 141 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in Medtronic by 3.4% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,118 shares of the medical technology company’s stock valued at $359,000 after buying an additional 137 shares in the last quarter. Nicolet Advisory Services LLC bought a new position in Medtronic in the 1st quarter worth about $247,000. TIAA Trust National Association grew its holdings in shares of Medtronic by 16.1% during the first quarter. TIAA Trust National Association now owns 8,083 shares of the medical technology company’s stock valued at $704,000 after buying an additional 1,119 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in shares of Medtronic in the first quarter worth $1,616,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE:MDT opened at $87.53 on Friday. The firm’s fifty day moving average is $89.48 and its two-hundred day moving average is $84.71. The firm has a market cap of $112.25 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 2.51 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. Medtronic plc has a one year low of $74.20 and a one year high of $92.68.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 earnings per share. Research analysts expect that Medtronic plc will post 5.44 EPS for the current year.

Analyst Ratings Changes

MDT has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Citigroup upped their price objective on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Piper Sandler raised their target price on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Finally, Barclays lifted 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $95.80.

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.