Seelaus Asset Management LLC Sells 440 Shares of Medtronic plc (NYSE:MDT)

Seelaus Asset Management LLC decreased its position in shares of Medtronic plc (NYSE:MDT) by 8.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,630 shares of the medical technology company’s stock after selling 440 shares during the quarter. Seelaus Asset Management LLC’s holdings in Medtronic were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nwam LLC grew its stake in shares of Medtronic by 3.2% in the first quarter. Nwam LLC now owns 4,492 shares of the medical technology company’s stock worth $371,000 after acquiring an additional 141 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Medtronic by 3.4% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,118 shares of the medical technology company’s stock valued at $359,000 after buying an additional 137 shares during the period. Nicolet Advisory Services LLC purchased a new position in shares of Medtronic in the 1st quarter worth $247,000. TIAA Trust National Association grew its holdings in shares of Medtronic by 16.1% in the first quarter. TIAA Trust National Association now owns 8,083 shares of the medical technology company’s stock worth $704,000 after acquiring an additional 1,119 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Medtronic during the first quarter valued at $1,616,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 1.8 %

Shares of NYSE:MDT opened at $87.53 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $112.25 billion, a PE ratio of 29.57, a P/E/G ratio of 2.51 and a beta of 0.84. Medtronic plc has a 12-month low of $74.20 and a 12-month high of $92.68. The business’s fifty day simple moving average is $89.48 and its 200-day simple moving average is $84.71.

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

Analyst Ratings Changes

A number of research firms have issued reports on MDT. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and boosted their price target for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Evercore ISI boosted their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Oppenheimer lifted their price target on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. Finally, JPMorgan Chase & Co. reduced their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday. One equities research 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 company’s stock. According to data from MarketBeat, Medtronic currently has an average rating of “Hold” and an average price target of $95.80.

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.