Noesis Capital Mangement Corp Boosts Holdings in Medtronic plc (NYSE:MDT)

Noesis Capital Mangement Corp grew its position in Medtronic plc (NYSE:MDT) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,266 shares of the medical technology company’s stock after acquiring an additional 2,482 shares during the quarter. Medtronic comprises about 1.8% of Noesis Capital Mangement Corp’s portfolio, making the stock its 22nd largest position. Noesis Capital Mangement Corp’s holdings in Medtronic were worth $9,117,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Public Sector Pension Investment Board lifted its stake in shares of Medtronic by 244.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 175,914 shares of the medical technology company’s stock worth $15,838,000 after acquiring an additional 124,900 shares during the last quarter. Fiduciary Trust Co increased its stake in Medtronic by 0.4% in the third quarter. Fiduciary Trust Co now owns 35,375 shares of the medical technology company’s stock worth $3,185,000 after purchasing an additional 142 shares during the period. CreativeOne Wealth LLC grew its holdings in shares of Medtronic by 279.5% in the third quarter. CreativeOne Wealth LLC now owns 20,672 shares of the medical technology company’s stock worth $1,861,000 after purchasing an additional 15,225 shares during the last quarter. Glenmede Trust Co. NA increased its stake in Medtronic by 31.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 380,554 shares of the medical technology company’s stock worth $34,261,000 after buying an additional 90,111 shares during the period. Finally, Hardy Reed LLC lifted its holdings in Medtronic by 4.4% during the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after buying an additional 116 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Oppenheimer raised their price objective on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Truist Financial upped their target price on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Robert W. Baird cut their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Finally, UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. One investment 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 stock. According to MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus target price of $95.27.

Medtronic Stock Performance

Shares of MDT stock opened at $86.29 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The company has a market cap of $110.66 billion, a PE ratio of 26.39, a PEG ratio of 2.43 and a beta of 0.84. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The business’s fifty day simple moving average is $88.81 and its 200-day simple moving average is $84.96.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 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 during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period last year, the business posted $1.25 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. 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.