60,000 Shares in Medtronic plc (NYSE:MDT) Bought by Sivik Global Healthcare LLC

Sivik Global Healthcare LLC bought a new stake in Medtronic plc (NYSE:MDT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 60,000 shares of the medical technology company’s stock, valued at approximately $5,402,000. Medtronic accounts for about 2.3% of Sivik Global Healthcare LLC’s portfolio, making the stock its 19th biggest position.

A number of other large investors have also recently bought and sold shares of MDT. TD Asset Management Inc lifted its stake in shares of Medtronic by 0.3% in the 1st quarter. TD Asset Management Inc now owns 1,037,061 shares of the medical technology company’s stock valued at $90,380,000 after purchasing an additional 2,847 shares during the period. SageView Advisory Group LLC raised its position in shares of Medtronic by 130.3% during the first quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock worth $1,467,000 after purchasing an additional 9,523 shares during the period. Blair William & Co. IL increased its stake in Medtronic by 6.5% during the 1st quarter. Blair William & Co. IL now owns 139,827 shares of the medical technology company’s stock worth $12,186,000 after purchasing an additional 8,513 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in Medtronic by 13.8% during the 1st quarter. Orion Portfolio Solutions LLC now owns 69,034 shares of the medical technology company’s stock worth $6,016,000 after buying an additional 8,352 shares during the period. Finally, Dorsey & Whitney Trust CO LLC lifted its position in Medtronic by 2.3% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 145,836 shares of the medical technology company’s stock valued at $12,710,000 after acquiring an additional 3,294 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Price Performance

Shares of Medtronic stock traded down $0.25 during mid-day trading on Thursday, reaching $87.72. 279,128 shares of the stock were exchanged, compared to its average volume of 6,182,854. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The company has a market cap of $112.50 billion, a price-to-earnings ratio of 29.72, a price-to-earnings-growth ratio of 2.52 and a beta of 0.84. The firm has a 50-day simple moving average of $89.59 and a 200 day simple moving average of $84.66. Medtronic plc has a fifty-two week low of $72.79 and a fifty-two week high of $92.68.

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

Analyst Ratings Changes

MDT has been the topic of a number of research reports. 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 research report on Monday, October 14th. Barclays increased their target price on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Wells Fargo & Company upped their price objective on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Finally, Evercore ISI increased their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and a consensus target price of $95.36.

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.