Okabena Investment Services Inc. Buys 448 Shares of Medtronic plc (NYSE:MDT)

Okabena Investment Services Inc. increased its stake in Medtronic plc (NYSE:MDT) by 13.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,696 shares of the medical technology company’s stock after purchasing an additional 448 shares during the period. Okabena Investment Services Inc.’s holdings in Medtronic were worth $333,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the third quarter worth $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic in the third quarter worth about $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic during the 3rd quarter worth about $27,000. Lynx Investment Advisory acquired a new position in Medtronic during the 2nd quarter valued at about $28,000. Finally, Gleason Group Inc. bought a new position in shares of Medtronic in the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Sanford C. Bernstein increased their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. decreased their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Finally, UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and raised their target price for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. One equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 1.7 %

MDT opened at $86.21 on Friday. The stock has a market capitalization of $110.56 billion, a P/E ratio of 26.36, a P/E/G ratio of 2.40 and a beta of 0.84. The company has a current ratio of 1.84, a quick ratio of 1.61 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. The firm’s fifty day simple moving average is $88.99 and its 200 day simple moving average is $84.89.

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