Mizuho Markets Americas LLC Sells 5,904 Shares of Medtronic plc (NYSE:MDT)

by · The Markets Daily

Mizuho Markets Americas LLC decreased its stake in Medtronic plc (NYSE:MDT – Free Report) by 7.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,527 shares of the medical technology company’s stock after selling 5,904 shares during the period. Mizuho Markets Americas LLC’s holdings in Medtronic were worth $6,350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MDT. Olstein Capital Management L.P. increased its stake in Medtronic by 19.2% in the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after acquiring an additional 14,000 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of Medtronic in the second quarter valued at approximately $25,643,000. Ferguson Wellman Capital Management Inc. acquired a new position in Medtronic in the third quarter worth $9,486,000. National Bank of Canada FI increased its position in Medtronic by 13.6% in the 1st quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company’s stock valued at $21,642,000 after acquiring an additional 31,195 shares in the last quarter. Finally, Harvest Portfolios Group Inc. raised its position in Medtronic by 6.5% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock worth $62,042,000 after purchasing an additional 42,112 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE MDT opened at $87.53 on Friday. The stock has a market cap of $112.25 billion, a PE ratio of 29.57, a P/E/G ratio of 2.51 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. Medtronic plc has a 52-week low of $74.20 and a 52-week high of $92.68. The firm has a 50-day moving average of $89.48 and a 200-day moving average of $84.71.

Medtronic (NYSE:MDT – Get Free Report) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 EPS. On average, sell-side analysts anticipate that Medtronic plc will post 5.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MDT. Evercore ISI lifted their price objective on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. UBS Group upgraded 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 report on Thursday, August 15th. Wells Fargo & Company lifted their price objective on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Piper Sandler increased their price target on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $95.80.

Read Our Latest Stock Analysis on MDT

Medtronic Company Profile

(Free Report)

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.

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