Citizens Financial Group Inc. RI Raises Stock Holdings in Medtronic plc (NYSE:MDT)

Citizens Financial Group Inc. RI raised its holdings in shares of Medtronic plc (NYSE:MDT) by 31.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,873 shares of the medical technology company’s stock after purchasing an additional 3,805 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Medtronic were worth $1,439,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Pzena Investment Management LLC raised its stake in shares of Medtronic by 3.3% in the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock valued at $772,727,000 after purchasing an additional 275,870 shares in the last quarter. EagleClaw Capital Managment LLC increased its holdings in Medtronic by 9.6% in the third quarter. EagleClaw Capital Managment LLC now owns 28,522 shares of the medical technology company’s stock valued at $2,568,000 after buying an additional 2,487 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Medtronic during the third quarter valued at approximately $27,000. Portfolio Design Labs LLC bought a new position in Medtronic during the 3rd quarter worth approximately $238,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of Medtronic by 8.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 166,057 shares of the medical technology company’s stock valued at $14,950,000 after acquiring an additional 12,461 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on MDT. Citigroup lifted 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. Sanford C. Bernstein boosted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday. Oppenheimer raised their target price on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Finally, Robert W. Baird cut their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Price Performance

Shares of MDT opened at $86.21 on Friday. The firm has a market capitalization of $110.56 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 2.42 and a beta of 0.84. The stock’s fifty day moving average is $88.99 and its 200-day moving average is $84.87. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. 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 released 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. The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the company earned $1.25 EPS. Equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

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.