LPL Financial LLC Has $98.33 Million Stock Holdings in Medtronic plc (NYSE:MDT)

LPL Financial LLC raised its position in Medtronic plc (NYSE:MDT) by 6.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,092,135 shares of the medical technology company’s stock after buying an additional 70,413 shares during the period. LPL Financial LLC owned about 0.09% of Medtronic worth $98,325,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in MDT. Clear Harbor Asset Management LLC raised its holdings in shares of Medtronic by 1.2% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after buying an additional 111 shares in the last quarter. First PREMIER Bank grew its position in 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 acquiring an additional 116 shares during the last quarter. First City Capital Management Inc. raised its stake in Medtronic by 2.9% during the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after acquiring an additional 116 shares in the last quarter. Precision Wealth Strategies LLC lifted its holdings 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 acquiring an additional 118 shares during the last quarter. Finally, Lake Street Advisors Group LLC boosted its stake in shares of Medtronic by 2.0% in the 3rd quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock valued at $547,000 after purchasing an additional 118 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MDT shares. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. JPMorgan Chase & Co. dropped their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Stifel Nicolaus boosted their price objective on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Oppenheimer lifted their price target on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. Finally, Truist Financial upped their price objective on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, nine have assigned 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, the stock has an average rating of “Hold” and a consensus target price of $95.00.

Medtronic Price Performance

MDT stock opened at $86.21 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The firm has a market cap 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 200 day simple moving average is $84.89. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68.

Medtronic (NYSE:MDT) last announced 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 the consensus estimate of $8.27 billion. During the same period in the previous year, the business earned $1.25 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Company 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.