Segall Bryant & Hamill LLC Takes $2.64 Million Position in Medtronic plc (NYSE:MDT)

Segall Bryant & Hamill LLC bought a new position in Medtronic plc (NYSE:MDT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 29,330 shares of the medical technology company’s stock, valued at approximately $2,641,000.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in Medtronic in the third quarter valued at $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic during the 3rd quarter worth about $27,000. Lynx Investment Advisory purchased a new stake in Medtronic in the second quarter valued at approximately $28,000. Gleason Group Inc. acquired a new position in Medtronic during the second quarter worth approximately $42,000. Finally, Opal Wealth Advisors LLC purchased a new position in Medtronic during the second quarter worth approximately $43,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. UBS Group raised 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. Oppenheimer lifted their price objective on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. cut their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 1.7 %

MDT opened at $86.21 on Friday. The stock has a market capitalization of $110.56 billion, a PE ratio of 26.36, a P/E/G ratio of 2.42 and a beta of 0.84. 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 plc has a 12-month low of $75.96 and a 12-month high of $92.68. The firm’s fifty day moving average price is $88.99 and its 200 day moving average price is $84.87.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. Medtronic’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.25 earnings per share. As a group, research analysts expect that Medtronic plc will post 5.46 EPS 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.