Associated Banc Corp Increases Position in Medtronic plc (NYSE:MDT)

Associated Banc Corp increased its holdings in shares of Medtronic plc (NYSE:MDT) by 12.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 171,778 shares of the medical technology company’s stock after acquiring an additional 18,542 shares during the quarter. Associated Banc Corp’s holdings in Medtronic were worth $15,465,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

MDT has been the topic of several research reports. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Sanford C. Bernstein boosted their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and raised their price target for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Finally, Barclays boosted their price objective on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $95.00.

Medtronic Price Performance

MDT stock traded down $0.22 during mid-day trading on Monday, hitting $85.99. 601,123 shares of the stock were exchanged, compared to its average volume of 6,248,266. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The stock has a market capitalization of $110.28 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 2.44 and a beta of 0.84. The business has a fifty day moving average price of $88.99 and a 200 day moving average price of $84.91. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the business posted $1.25 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that Medtronic plc will post 5.46 EPS 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.