Captrust Financial Advisors Decreases Position in Medtronic plc (NYSE:MDT)

Captrust Financial Advisors cut its holdings in shares of Medtronic plc (NYSE:MDT) by 12.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,390 shares of the medical technology company’s stock after selling 13,977 shares during the quarter. Captrust Financial Advisors’ holdings in Medtronic were worth $9,128,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of MDT. Fortitude Family Office LLC purchased a new stake in Medtronic in the third quarter valued at approximately $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new position in Medtronic during the 3rd quarter valued at approximately $27,000. J. Stern & Co. LLP purchased a new stake in Medtronic in the 3rd quarter worth approximately $30,000. Finally, Lynx Investment Advisory bought a new stake in shares of Medtronic in the 2nd quarter worth approximately $28,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MDT shares. Piper Sandler upped their target price on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Truist Financial upped their price objective on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Barclays lifted their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. decreased their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Finally, Sanford C. Bernstein upped their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and an average target price of $95.27.

Medtronic Price Performance

Shares of MDT opened at $86.54 on Monday. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The firm has a 50 day moving average of $88.69 and a 200 day moving average of $85.00. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $110.97 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 2.45 and a beta of 0.84.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) 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 firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the firm posted $1.25 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

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.