Medtronic plc (NYSE:MDT) Shares Acquired by Mizuho Securities USA LLC

Mizuho Securities USA LLC lifted its stake in shares of Medtronic plc (NYSE:MDT) by 60.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 164,369 shares of the medical technology company’s stock after purchasing an additional 61,985 shares during the period. Mizuho Securities USA LLC’s holdings in Medtronic were worth $14,798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MDT. Clear Harbor Asset Management LLC lifted its stake in Medtronic by 1.2% during the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after buying an additional 111 shares in the last quarter. First PREMIER Bank lifted its holdings in shares of Medtronic by 1.8% in the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after purchasing an additional 116 shares in the last quarter. Precision Wealth Strategies LLC boosted its position in shares of Medtronic by 3.3% in the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock worth $337,000 after buying an additional 118 shares during the period. Lake Street Advisors Group LLC grew its holdings in shares of Medtronic by 2.0% during the third quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock valued at $547,000 after buying an additional 118 shares in the last quarter. Finally, Sigma Planning Corp raised its position in Medtronic by 0.4% during the third quarter. Sigma Planning Corp now owns 28,843 shares of the medical technology company’s stock valued at $2,597,000 after buying an additional 124 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MDT shares. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Truist Financial boosted their price objective on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, October 14th. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and increased their target price for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Barclays lifted their target price on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Oppenheimer upped their price target on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and an average target price of $95.80.

Medtronic Trading Up 1.8 %

NYSE:MDT opened at $87.53 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average is $89.48 and its 200-day moving average is $84.74. The firm has a market cap of $112.25 billion, a price-to-earnings ratio of 29.57, a P/E/G ratio of 2.50 and a beta of 0.84. Medtronic plc has a 12 month low of $74.20 and a 12 month high of $92.68.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. During the same quarter in the previous year, the business earned $1.20 EPS. The business’s revenue was up 3.4% on a year-over-year basis. Equities analysts anticipate that Medtronic plc will post 5.44 EPS for the current year.

Medtronic 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.