GSA Capital Partners LLP Trims Stock Holdings in Medtronic plc (NYSE:MDT)

GSA Capital Partners LLP trimmed its holdings in Medtronic plc (NYSE:MDT) by 70.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,064 shares of the medical technology company’s stock after selling 11,995 shares during the period. GSA Capital Partners LLP’s holdings in Medtronic were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of MDT. Lake Street Advisors Group LLC purchased a new position in shares of Medtronic during the 1st quarter valued at $498,000. CreativeOne Wealth LLC grew its position in shares of Medtronic by 31.3% during the 1st quarter. CreativeOne Wealth LLC now owns 5,456 shares of the medical technology company’s stock valued at $475,000 after purchasing an additional 1,300 shares in the last quarter. Freestone Capital Holdings LLC grew its position in shares of Medtronic by 3.0% during the 1st quarter. Freestone Capital Holdings LLC now owns 24,350 shares of the medical technology company’s stock valued at $2,122,000 after purchasing an additional 708 shares in the last quarter. Axxcess Wealth Management LLC grew its position in shares of Medtronic by 8.7% during the 1st quarter. Axxcess Wealth Management LLC now owns 27,536 shares of the medical technology company’s stock valued at $2,400,000 after purchasing an additional 2,194 shares in the last quarter. Finally, Envoi LLC purchased a new position in shares of Medtronic during the 1st quarter valued at $26,145,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the subject of several research reports. Robert W. Baird cut their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Sanford C. Bernstein upped their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday. Oppenheimer upped their target price on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. Finally, Stifel Nicolaus upped their target price on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $95.19.

Medtronic Stock Performance

Shares of NYSE:MDT opened at $84.11 on Thursday. The company has a market cap of $107.87 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 2.50 and a beta of 0.84. The company has a 50-day moving average price of $89.17 and a 200-day moving average price of $84.84. 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 12 month low of $75.96 and a 12 month high of $92.68.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 earnings per share. As a group, equities analysts anticipate that Medtronic plc will post 5.44 EPS 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.