Mutual of America Capital Management LLC Cuts Stock Position in Medtronic plc (NYSE:MDT)

Mutual of America Capital Management LLC trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,294 shares of the medical technology company’s stock after selling 9,528 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Medtronic were worth $14,251,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC acquired a new stake in shares of Medtronic in the third quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new stake in Medtronic during the 3rd quarter worth approximately $27,000. Lynx Investment Advisory acquired a new position in shares of Medtronic during the second quarter valued at approximately $28,000. Gleason Group Inc. purchased a new position in shares of Medtronic in the second quarter valued at approximately $42,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Medtronic in the second quarter worth approximately $43,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MDT shares. Truist Financial increased their target price 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. Robert W. Baird increased their price objective on Medtronic from $90.00 to $96.00 in a research report on Friday. Evercore ISI lifted their target price on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus upped 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $95.80.

Medtronic Stock Up 1.8 %

Medtronic stock 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 2.50 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The stock’s fifty day moving average is $89.48 and its two-hundred day moving average is $84.74. Medtronic plc has a 1-year low of $74.20 and a 1-year high of $92.68.

Medtronic (NYSE:MDT) last posted its earnings results 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. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. During the same quarter in the previous year, the business earned $1.20 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. On average, sell-side analysts expect that Medtronic plc will post 5.44 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.