Medtronic plc (NYSE:MDT) is Round Hill Asset Management’s 8th Largest Position

Round Hill Asset Management decreased its holdings in Medtronic plc (NYSE:MDT) by 0.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 52,220 shares of the medical technology company’s stock after selling 125 shares during the quarter. Medtronic accounts for approximately 3.1% of Round Hill Asset Management’s investment portfolio, making the stock its 8th largest holding. Round Hill Asset Management’s holdings in Medtronic were worth $4,701,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MDT. Kestra Advisory Services LLC lifted its holdings in shares of Medtronic by 17.1% during the 1st quarter. Kestra Advisory Services LLC now owns 148,211 shares of the medical technology company’s stock valued at $12,917,000 after acquiring an additional 21,594 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its stake in shares of Medtronic by 2.6% during the first quarter. Mount Yale Investment Advisors LLC now owns 7,227 shares of the medical technology company’s stock worth $630,000 after purchasing an additional 180 shares in the last quarter. Ascent Group LLC lifted its stake in shares of Medtronic by 17.4% during the first quarter. Ascent Group LLC now owns 3,349 shares of the medical technology company’s stock worth $292,000 after purchasing an additional 497 shares in the last quarter. Kinloch Capital LLC boosted its position in shares of Medtronic by 4.8% in the first quarter. Kinloch Capital LLC now owns 41,080 shares of the medical technology company’s stock worth $3,580,000 after buying an additional 1,878 shares during the period. Finally, Industrial Alliance Investment Management Inc. grew its stake in shares of Medtronic by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 6,315 shares of the medical technology company’s stock valued at $550,000 after buying an additional 266 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on MDT. Truist Financial boosted their price target on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Evercore ISI boosted their price objective on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Robert W. Baird decreased their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Piper Sandler increased their price target on 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, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 1.7 %

NYSE MDT opened at $86.21 on Friday. The firm has a market capitalization of $110.56 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.40 and a beta of 0.84. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The company has a 50-day simple moving average of $88.99 and a 200-day simple moving average of $84.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.84.

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

Medtronic Company 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.