Cobblestone Capital Advisors LLC NY Trims Stock Position in Medtronic plc (NYSE:MDT)

Cobblestone Capital Advisors LLC NY decreased its position in Medtronic plc (NYSE:MDT) by 21.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,289 shares of the medical technology company’s stock after selling 893 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Medtronic were worth $296,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MDT. Pzena Investment Management LLC grew its position in shares of Medtronic by 3.3% during the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock worth $772,727,000 after buying an additional 275,870 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Medtronic by 436.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock worth $661,125,000 after acquiring an additional 5,975,110 shares during the period. Dimensional Fund Advisors LP grew its holdings in Medtronic by 7.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock worth $560,494,000 after acquiring an additional 515,751 shares in the last quarter. Raymond James & Associates increased its position in Medtronic by 2.3% during the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock valued at $575,460,000 after purchasing an additional 145,504 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of Medtronic by 11.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company’s stock valued at $530,612,000 after purchasing an additional 609,391 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MDT shares. Barclays lifted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Stifel Nicolaus upped their price objective on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Wells Fargo & Company cut their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Finally, Citigroup increased their price target on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $95.27.

Medtronic Trading Up 0.3 %

NYSE MDT opened at $86.54 on Monday. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The company has a fifty day simple moving average of $88.69 and a two-hundred day simple moving average of $85.00. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock has a market cap of $110.97 billion, a P/E ratio of 26.46, a P/E/G ratio of 2.45 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion during 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 firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. On average, analysts forecast that Medtronic plc will post 5.46 earnings per share for the current 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.