Medtronic plc (NYSE:MDT) Shares Purchased by Larson Financial Group LLC

Larson Financial Group LLC boosted its stake in Medtronic plc (NYSE:MDT) by 18.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 24,675 shares of the medical technology company’s stock after acquiring an additional 3,903 shares during the quarter. Larson Financial Group LLC’s holdings in Medtronic were worth $2,221,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MDT shares. JPMorgan Chase & Co. decreased their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Stifel Nicolaus lifted their price target on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Daiwa America raised Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and lifted their price target for the company from $76.00 to $90.00 in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus target price of $95.00.

Medtronic Stock Performance

Shares of MDT opened at $86.21 on Monday. The business’s 50 day moving average is $88.99 and its two-hundred day moving average is $84.91. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The firm has a market cap of $110.56 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.44 and a beta of 0.84. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the business earned $1.25 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts forecast that Medtronic plc will post 5.46 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.