Larson Financial Group LLC Increases Stock Position in Medtronic plc (NYSE:MDT)

Larson Financial Group LLC lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 18.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,675 shares of the medical technology company’s stock after buying an additional 3,903 shares during the quarter. Larson Financial Group LLC’s holdings in Medtronic were worth $2,221,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MDT. Fortitude Family Office LLC bought a new position in shares of Medtronic in the 3rd quarter worth $27,000. Highline Wealth Partners LLC purchased a new stake in Medtronic during the 3rd quarter valued at $27,000. Darwin Wealth Management LLC purchased a new stake in Medtronic during the 3rd quarter valued at $27,000. Lynx Investment Advisory purchased a new stake in Medtronic during the 2nd quarter valued at $28,000. Finally, Gleason Group Inc. purchased a new stake in shares of Medtronic in the 2nd quarter worth about $42,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Up 1.7 %

Shares of MDT opened at $86.21 on Monday. The company’s fifty day simple moving average is $88.99 and its 200-day simple moving average is $84.91. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The company has a market cap of $110.56 billion, a P/E ratio of 26.36, a P/E/G ratio of 2.44 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68.

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

Analyst Ratings Changes

MDT has been the subject of several research analyst reports. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and raised their target price for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Wells Fargo & Company lowered their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Stifel Nicolaus lifted their price target on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Finally, Evercore ISI upped their target price on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $95.00.

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.