Endowment Wealth Management Inc. Acquires Shares of 2,398 Medtronic plc (NYSE:MDT)

Endowment Wealth Management Inc. purchased a new position in shares of Medtronic plc (NYSE:MDT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,398 shares of the medical technology company’s stock, valued at approximately $216,000.

A number of other hedge funds have also bought and sold shares of MDT. M&G Plc acquired a new position in Medtronic in the first quarter valued at about $259,160,000. Capital Research Global Investors increased its holdings in Medtronic by 7.1% in the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after buying an additional 2,044,109 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Medtronic by 1,195.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock valued at $144,637,000 after buying an additional 1,695,800 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Medtronic by 8,908.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock worth $116,896,000 after acquiring an additional 1,284,002 shares during the period. Finally, Troy Asset Management Ltd bought a new stake in shares of Medtronic during the 2nd quarter worth approximately $85,440,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MDT. Evercore ISI boosted their price objective 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. 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 report on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Stifel Nicolaus lifted their target price on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Finally, Barclays increased their target price on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $95.36.

Medtronic Price Performance

MDT stock opened at $87.98 on Thursday. The company has a market capitalization of $112.83 billion, a P/E ratio of 29.72, a PEG ratio of 2.52 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. Medtronic plc has a 52-week low of $72.08 and a 52-week high of $92.68. The company has a fifty day moving average price of $89.59 and a 200-day moving average price of $84.66.

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

Medtronic Company 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.