Rockefeller Capital Management L.P. Cuts Position in Medtronic plc (NYSE:MDT)

Rockefeller Capital Management L.P. lowered its position in shares of Medtronic plc (NYSE:MDT) by 1.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 504,845 shares of the medical technology company’s stock after selling 6,262 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Medtronic were worth $45,451,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. iA Global Asset Management Inc. acquired a new position in shares of Medtronic during the 1st quarter valued at $513,000. Cetera Advisors LLC boosted its position in shares of Medtronic by 63.3% in the first quarter. Cetera Advisors LLC now owns 83,977 shares of the medical technology company’s stock worth $7,319,000 after buying an additional 32,564 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Medtronic by 7.3% in the first quarter. EverSource Wealth Advisors LLC now owns 5,584 shares of the medical technology company’s stock worth $448,000 after buying an additional 380 shares during the period. HM Payson & Co. grew its stake in shares of Medtronic by 43.5% in the first quarter. HM Payson & Co. now owns 29,320 shares of the medical technology company’s stock valued at $2,555,000 after buying an additional 8,893 shares in the last quarter. Finally, Bright Futures Wealth Management LLC. purchased a new stake in shares of Medtronic during the 1st quarter valued at about $293,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Up 0.3 %

Shares of NYSE MDT opened at $86.54 on Friday. The company has a market cap of $110.98 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.44 and a beta of 0.84. The stock’s 50 day simple moving average is $88.69 and its 200 day simple moving average is $84.99. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 earnings per share. Equities research analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Analyst Upgrades and Downgrades

MDT has been the subject of several recent research reports. Barclays increased their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday. Citigroup raised their price target on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Truist Financial boosted 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. Wells Fargo & Company lowered their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus boosted their price target on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. One research 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 company’s stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus target price of $95.27.

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.