Townsquare Capital LLC Has $32.57 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Townsquare Capital LLC raised its holdings in Medtronic plc (NYSE:MDT) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 361,815 shares of the medical technology company’s stock after acquiring an additional 14,235 shares during the period. Townsquare Capital LLC’s holdings in Medtronic were worth $32,574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cadence Bank increased its holdings in Medtronic by 2.3% during the 3rd quarter. Cadence Bank now owns 74,437 shares of the medical technology company’s stock worth $6,702,000 after purchasing an additional 1,674 shares in the last quarter. Transamerica Financial Advisors Inc. grew its position in shares of Medtronic by 12.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 7,586 shares of the medical technology company’s stock valued at $683,000 after acquiring an additional 815 shares during the period. Shum Financial Group Inc. acquired a new position in shares of Medtronic during the 3rd quarter worth about $971,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic in the 3rd quarter valued at about $30,000. Finally, Lazard Freres Gestion S.A.S. grew its holdings in Medtronic by 23.5% during the third quarter. Lazard Freres Gestion S.A.S. now owns 1,159,191 shares of the medical technology company’s stock worth $104,361,000 after purchasing an additional 220,556 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on MDT shares. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and upped their price objective for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Sanford C. Bernstein lifted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Wells Fargo & Company reduced their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $95.27.

Medtronic Stock Down 0.1 %

MDT stock opened at $85.67 on Wednesday. The company has a market cap of $109.87 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 2.43 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. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The business has a 50-day simple moving average of $88.85 and a 200 day simple moving average of $84.95.

Medtronic (NYSE:MDT) last issued 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 firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.25 earnings per share. Sell-side analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal 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.