EagleClaw Capital Managment LLC Acquires 2,487 Shares of Medtronic plc (NYSE:MDT)

EagleClaw Capital Managment LLC increased its position in shares of Medtronic plc (NYSE:MDT) by 9.6% during the third quarter, Holdings Channel reports. The institutional investor owned 28,522 shares of the medical technology company’s stock after purchasing an additional 2,487 shares during the quarter. EagleClaw Capital Managment LLC’s holdings in Medtronic were worth $2,568,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Darwin Wealth Management LLC acquired a new position in shares of Medtronic in the 3rd quarter worth approximately $27,000. Portfolio Design Labs LLC bought a new position in Medtronic in the third quarter valued at approximately $238,000. Advisors Asset Management Inc. boosted its position in shares of Medtronic by 8.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 166,057 shares of the medical technology company’s stock worth $14,950,000 after purchasing an additional 12,461 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Medtronic during the third quarter worth $2,641,000. Finally, Prospera Private Wealth LLC bought a new stake in Medtronic in the third quarter valued at about $7,874,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on MDT. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday. Citigroup upped their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lowered their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Evercore ISI boosted their price objective on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Oppenheimer raised their target price on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic has an average rating of “Hold” and an average price target of $95.07.

Medtronic Price Performance

NYSE MDT traded down $0.53 on Wednesday, hitting $84.47. 260,261 shares of the company’s stock were exchanged, compared to its average volume of 6,242,857. The stock has a 50-day moving average of $89.30 and a 200-day moving average of $84.84. The stock has a market cap of $108.33 billion, a price-to-earnings ratio of 29.05, a P/E/G ratio of 2.50 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. Analysts expect that Medtronic plc will post 5.44 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.