Atlantic Union Bankshares Corp Sells 3,130 Shares of Medtronic plc (NYSE:MDT)

Atlantic Union Bankshares Corp lowered its holdings in Medtronic plc (NYSE:MDT) by 11.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,036 shares of the medical technology company’s stock after selling 3,130 shares during the period. Atlantic Union Bankshares Corp’s holdings in Medtronic were worth $2,164,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MDT. Fortitude Family Office LLC bought a new stake in Medtronic in the third quarter worth about $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Medtronic during the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic in the 3rd quarter worth approximately $27,000. Lynx Investment Advisory purchased a new position in Medtronic in the second quarter valued at approximately $28,000. Finally, J. Stern & Co. LLP bought a new position in Medtronic during the third quarter valued at $30,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $86.54 on Friday. The stock has a market cap of $110.98 billion, a P/E ratio of 26.46, a PEG ratio of 2.44 and a beta of 0.84. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $88.69 and its two-hundred day moving average price is $84.99. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68.

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

Analysts Set New Price Targets

Several analysts have issued reports on MDT shares. Piper Sandler boosted their target price on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Sanford C. Bernstein boosted their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Robert W. Baird lowered their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Finally, Citigroup raised their price objective on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $95.27.

About Medtronic

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.