Nicolet Advisory Services LLC Acquires 360 Shares of Medtronic plc (NYSE:MDT)

Nicolet Advisory Services LLC boosted its stake in Medtronic plc (NYSE:MDT) by 10.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,802 shares of the medical technology company’s stock after buying an additional 360 shares during the period. Nicolet Advisory Services LLC’s holdings in Medtronic were worth $334,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MDT. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Medtronic by 1,195.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock valued at $144,637,000 after buying an additional 1,695,800 shares during the last quarter. International Assets Investment Management LLC increased its stake in Medtronic by 8,908.6% in the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock valued at $116,896,000 after purchasing an additional 1,284,002 shares in the last quarter. Troy Asset Management Ltd acquired a new position in shares of Medtronic in the 2nd quarter valued at $85,440,000. 1832 Asset Management L.P. grew its stake in Medtronic by 26.9% in the second quarter. 1832 Asset Management L.P. now owns 4,915,609 shares of the medical technology company’s stock valued at $386,908,000 after acquiring an additional 1,041,863 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in Medtronic by 785.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 839,845 shares of the medical technology company’s stock worth $66,104,000 after purchasing an additional 744,952 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of a number of research reports. Barclays boosted their price target on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Truist Financial increased their price target on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Robert W. Baird decreased their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Piper Sandler upped their price target on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Finally, Daiwa America upgraded Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus target price of $95.00.

Medtronic Stock Up 1.7 %

NYSE MDT opened at $86.21 on Monday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week 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. The business has a fifty day moving average price of $88.99 and a two-hundred day moving average price of $84.91. The stock has a market capitalization of $110.56 billion, a PE ratio of 26.36, a PEG ratio of 2.40 and a beta of 0.84.

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, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the company earned $1.25 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal 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.