Medtronic plc (NYSE:MDT) Shares Purchased by KBC Group NV

KBC Group NV increased its holdings in shares of Medtronic plc (NYSE:MDT) by 78.3% in the third quarter, Holdings Channel reports. The firm owned 654,279 shares of the medical technology company’s stock after buying an additional 287,396 shares during the quarter. KBC Group NV’s holdings in Medtronic were worth $58,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Olstein Capital Management L.P. lifted its stake in shares of Medtronic by 19.2% in the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after acquiring an additional 14,000 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of Medtronic in the 2nd quarter worth $25,643,000. National Bank of Canada FI lifted its stake in shares of Medtronic by 13.6% in the 1st quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company’s stock worth $21,642,000 after acquiring an additional 31,195 shares during the period. Harvest Portfolios Group Inc. increased its holdings in shares of Medtronic by 6.5% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock valued at $62,042,000 after purchasing an additional 42,112 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Medtronic by 6.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 368,682 shares of the medical technology company’s stock valued at $29,019,000 after purchasing an additional 21,995 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MDT. Robert W. Baird increased their price target on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Piper Sandler increased their price target on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus price target of $95.36.

Medtronic Trading Down 2.3 %

Shares of MDT stock opened at $85.97 on Friday. The stock has a market cap of $110.25 billion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 2.51 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. Medtronic plc has a fifty-two week low of $72.79 and a fifty-two week high of $92.68. The firm’s 50 day moving average price is $89.59 and its two-hundred day moving average price is $84.66.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. Medtronic’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.20 earnings per share. On average, analysts anticipate 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.