Medtronic plc (NYSE:MDT) Shares Sold by Coastline Trust Co

Coastline Trust Co trimmed its stake in shares of Medtronic plc (NYSE:MDT) by 74.6% in the third quarter, Holdings Channel.com reports. The fund owned 2,750 shares of the medical technology company’s stock after selling 8,060 shares during the period. Coastline Trust Co’s holdings in Medtronic were worth $248,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MDT. Nwam LLC raised its stake in shares of Medtronic by 3.2% during the 1st quarter. Nwam LLC now owns 4,492 shares of the medical technology company’s stock worth $371,000 after buying an additional 141 shares during the last quarter. Nicolet Advisory Services LLC acquired a new position in Medtronic during the first quarter worth about $247,000. TIAA Trust National Association lifted its holdings in shares of Medtronic by 16.1% in the first quarter. TIAA Trust National Association now owns 8,083 shares of the medical technology company’s stock valued at $704,000 after purchasing an additional 1,119 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of Medtronic in the first quarter valued at approximately $1,616,000. Finally, Resurgent Financial Advisors LLC increased its stake in shares of Medtronic by 59.4% during the 1st quarter. Resurgent Financial Advisors LLC now owns 8,735 shares of the medical technology company’s stock worth $761,000 after purchasing an additional 3,256 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of a number of analyst reports. Wells Fargo & Company increased their target price on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Robert W. Baird lifted their price objective on Medtronic from $90.00 to $96.00 in a research report on Friday. Piper Sandler upped their target price on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Finally, Truist Financial lifted their price target on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $95.80.

Medtronic Trading Up 1.8 %

Shares of MDT opened at $87.53 on Friday. Medtronic plc has a twelve month low of $74.20 and a twelve month high of $92.68. The firm has a market capitalization of $112.25 billion, a P/E ratio of 29.57, a price-to-earnings-growth ratio of 2.51 and a beta of 0.84. 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 stock’s fifty day simple moving average is $89.48 and its 200 day simple moving average is $84.74.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. During the same period last year, the business posted $1.20 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts forecast that Medtronic plc will post 5.44 earnings per share for the current 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.