Motley Fool Wealth Management LLC Has $7.77 Million Stock Position in Medtronic plc (NYSE:MDT)

Motley Fool Wealth Management LLC trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 9.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,297 shares of the medical technology company’s stock after selling 8,915 shares during the period. Motley Fool Wealth Management LLC’s holdings in Medtronic were worth $7,769,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Clear Harbor Asset Management LLC raised its position in Medtronic by 1.2% during the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after buying an additional 111 shares during the period. First PREMIER Bank raised its position in Medtronic by 1.8% during the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after buying an additional 116 shares during the period. First City Capital Management Inc. raised its position in Medtronic by 2.9% during the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock valued at $371,000 after buying an additional 116 shares during the period. Hardy Reed LLC raised its position in Medtronic by 4.4% during the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after buying an additional 116 shares during the period. Finally, Precision Wealth Strategies LLC grew its stake in Medtronic by 3.3% in the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock valued at $337,000 after purchasing an additional 118 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Price Performance

Shares of NYSE:MDT opened at $85.71 on Wednesday. The business has a 50 day moving average price of $88.54 and a 200 day moving average price of $85.00. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The company has a market cap of $109.91 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 2.45 and a beta of 0.82. 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 announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 EPS. Research analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and boosted their target price for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Citigroup boosted their target price on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Evercore ISI boosted their target price on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Medtronic has a consensus rating of “Hold” and an average price target of $95.27.

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.