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

Noesis Capital Mangement Corp boosted its position in Medtronic plc (NYSE:MDT) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 101,266 shares of the medical technology company’s stock after buying an additional 2,482 shares during the period. Medtronic makes up approximately 1.8% of Noesis Capital Mangement Corp’s investment portfolio, making the stock its 22nd largest holding. Noesis Capital Mangement Corp’s holdings in Medtronic were worth $9,117,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new stake in Medtronic in the 3rd quarter worth approximately $27,000. J. Stern & Co. LLP purchased a new position in shares of Medtronic during the 3rd quarter valued at approximately $30,000. Finally, Lynx Investment Advisory purchased a new position in shares of Medtronic during the 2nd quarter valued at approximately $28,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE:MDT opened at $86.29 on Thursday. The stock has a 50 day moving average price of $88.81 and a 200 day moving average price of $84.96. The stock has a market cap of $110.66 billion, a PE ratio of 26.39, a P/E/G ratio of 2.43 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic plc has a one year low of $75.96 and a one year high of $92.68.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. Equities research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MDT. Stifel Nicolaus raised their price target on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Oppenheimer lifted their price target on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. Citigroup upped their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Finally, Evercore ISI raised their price objective on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $95.27.

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.