4,714 Shares in Medtronic plc (NYSE:MDT) Bought by Alethea Capital Management LLC

Alethea Capital Management LLC acquired a new stake in Medtronic plc (NYSE:MDT) in the 3rd quarter, Holdings Channel reports. The fund acquired 4,714 shares of the medical technology company’s stock, valued at approximately $424,000. Medtronic comprises approximately 0.3% of Alethea Capital Management LLC’s investment portfolio, making the stock its 13th largest position.

Several other hedge funds also recently made changes to their positions in MDT. EverSource Wealth Advisors LLC grew its stake in Medtronic by 7.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,584 shares of the medical technology company’s stock worth $448,000 after buying an additional 380 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Medtronic by 39.6% in the second quarter. GAMMA Investing LLC now owns 9,735 shares of the medical technology company’s stock valued at $766,000 after acquiring an additional 2,760 shares during the period. First Hawaiian Bank grew its position in shares of Medtronic by 3.2% during the second quarter. First Hawaiian Bank now owns 18,409 shares of the medical technology company’s stock worth $1,449,000 after acquiring an additional 571 shares during the last quarter. Moody National Bank Trust Division increased its holdings in shares of Medtronic by 13.4% in the 2nd quarter. Moody National Bank Trust Division now owns 13,663 shares of the medical technology company’s stock valued at $1,075,000 after acquiring an additional 1,613 shares during the period. Finally, Versant Capital Management Inc raised its position in Medtronic by 4,925.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,206 shares of the medical technology company’s stock valued at $95,000 after purchasing an additional 1,182 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on MDT. Wells Fargo & Company dropped their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Sanford C. Bernstein upped their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Robert W. Baird lowered their target price 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, Oppenheimer upped their price target on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $95.27.

Medtronic Stock Up 0.3 %

Shares of NYSE MDT opened at $86.54 on Friday. The stock has a market capitalization of $110.97 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.45 and a beta of 0.84. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The firm has a 50-day moving average price of $88.69 and a 200 day moving average price of $85.00. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last posted its quarterly earnings results 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. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $1.25 EPS. Equities research analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

About Medtronic

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.