Okabena Investment Services Inc. Buys 448 Shares of Medtronic plc (NYSE:MDT)

Okabena Investment Services Inc. increased its stake in shares of Medtronic plc (NYSE:MDT) by 13.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,696 shares of the medical technology company’s stock after acquiring an additional 448 shares during the period. Okabena Investment Services Inc.’s holdings in Medtronic were worth $333,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic during the third quarter worth $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic in the third quarter valued at $27,000. Lynx Investment Advisory bought a new position in shares of Medtronic in the 2nd quarter valued at about $28,000. Finally, Gleason Group Inc. acquired a new position in shares of Medtronic during the 2nd quarter worth about $42,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on MDT. Daiwa America upgraded Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Stifel Nicolaus increased their price target on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Wells Fargo & Company reduced their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday. Truist Financial increased their price objective on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Finally, Citigroup upped their price target on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Medtronic currently has an average rating of “Hold” and an average target price of $95.00.

Medtronic Price Performance

Shares of NYSE 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 2.40 and a beta of 0.84. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.61. The business has a fifty day moving average price of $88.99 and a two-hundred day moving average price of $84.89.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the prior year, the business posted $1.25 earnings per share. Medtronic’s revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal 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.