Cypress Capital Group Has $1.12 Million Stock Position in Medtronic plc (NYSE:MDT)

Cypress Capital Group boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 28.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,473 shares of the medical technology company’s stock after acquiring an additional 2,798 shares during the quarter. Cypress Capital Group’s holdings in Medtronic were worth $1,123,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in Medtronic during the 3rd quarter valued at $27,000. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the third quarter valued at $27,000. Lynx Investment Advisory bought a new stake in Medtronic in the 2nd quarter valued at about $28,000. Finally, Gleason Group Inc. purchased a new stake in shares of Medtronic during the 2nd quarter valued at approximately $42,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of MDT opened at $84.71 on Friday. The stock has a 50-day moving average of $89.07 and a two-hundred day moving average of $84.84. The stock has a market cap of $108.63 billion, a P/E ratio of 25.90, a P/E/G ratio of 2.42 and a beta of 0.84. 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 plc has a one year low of $75.96 and a one year high of $92.68.

Medtronic (NYSE:MDT) last released 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 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the previous year, the company earned $1.25 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. 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. Oppenheimer lifted their price objective on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Barclays increased their price target on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and a consensus price target of $95.19.

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.