Cerity Partners LLC Has $21.91 Million Holdings in Medtronic plc (NYSE:MDT)

Cerity Partners LLC raised its stake in shares of Medtronic plc (NYSE:MDT) by 43.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 243,308 shares of the medical technology company’s stock after purchasing an additional 73,334 shares during the period. Cerity Partners LLC’s holdings in Medtronic were worth $21,910,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC purchased a new position in Medtronic during the 3rd quarter worth $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic during the third quarter worth about $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic in the 3rd quarter worth about $27,000. Lynx Investment Advisory purchased a new stake in Medtronic in the 2nd quarter valued at about $28,000. Finally, Gleason Group Inc. bought a new position in shares of Medtronic during the 2nd quarter worth approximately $42,000. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Up 1.7 %

Shares of MDT stock opened at $86.21 on Monday. The stock has a market capitalization of $110.56 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.40 and a beta of 0.84. The company’s fifty day simple moving average is $88.99 and its two-hundred day simple moving average is $84.91. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.61.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the company posted $1.25 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of recent analyst reports. Oppenheimer lifted their price target on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Citigroup lifted their target price on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Finally, Piper Sandler increased their target price on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $95.00.

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.