Medtronic plc (NYSE:MDT) Holdings Decreased by 1776 Wealth LLC

1776 Wealth LLC lowered its position in Medtronic plc (NYSE:MDT) by 5.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,656 shares of the medical technology company’s stock after selling 339 shares during the quarter. 1776 Wealth LLC’s holdings in Medtronic were worth $509,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic during the 3rd quarter worth about $27,000. Lynx Investment Advisory acquired a new position in shares of Medtronic during the 2nd quarter worth about $28,000. Gleason Group Inc. acquired a new position in shares of Medtronic during the 2nd quarter worth about $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in Medtronic in the 2nd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 1.8 %

MDT traded up $1.53 during mid-day trading on Friday, reaching $87.53. The stock had a trading volume of 7,952,317 shares, compared to its average volume of 6,225,400. The stock has a market capitalization of $112.25 billion, a P/E ratio of 29.57, a P/E/G ratio of 2.51 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The firm’s fifty day simple moving average is $89.48 and its two-hundred day simple moving average is $84.71. Medtronic plc has a 52 week low of $74.20 and a 52 week high of $92.68.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.20 EPS. On average, equities analysts predict that Medtronic plc will post 5.44 EPS for the current year.

Analyst Upgrades and Downgrades

MDT has been the subject of several recent research reports. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and upped their price target for the company from $76.00 to $90.00 in a report on Thursday, August 15th. Oppenheimer upped their price target on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. Robert W. Baird upped their price target on Medtronic from $90.00 to $96.00 in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Finally, Stifel Nicolaus upped their price objective on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. One 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. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and a consensus target price of $95.80.

Medtronic 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.