Main Street Financial Solutions LLC Sells 858 Shares of Medtronic plc (NYSE:MDT)

Main Street Financial Solutions LLC lowered its position in shares of Medtronic plc (NYSE:MDT) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,527 shares of the medical technology company’s stock after selling 858 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Medtronic were worth $1,038,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDT. TD Asset Management Inc raised its position in Medtronic by 0.3% in the first quarter. TD Asset Management Inc now owns 1,037,061 shares of the medical technology company’s stock worth $90,380,000 after acquiring an additional 2,847 shares during the period. SageView Advisory Group LLC increased its stake in shares of Medtronic by 130.3% during the 1st quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock worth $1,467,000 after purchasing an additional 9,523 shares during the last quarter. Blair William & Co. IL raised its holdings in shares of Medtronic by 6.5% in the 1st quarter. Blair William & Co. IL now owns 139,827 shares of the medical technology company’s stock worth $12,186,000 after purchasing an additional 8,513 shares during the period. Orion Portfolio Solutions LLC lifted its stake in Medtronic by 13.8% in the first quarter. Orion Portfolio Solutions LLC now owns 69,034 shares of the medical technology company’s stock valued at $6,016,000 after purchasing an additional 8,352 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in Medtronic by 2.3% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 145,836 shares of the medical technology company’s stock valued at $12,710,000 after purchasing an additional 3,294 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of several research reports. Barclays boosted their target price on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Citigroup upped their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Stifel Nicolaus increased their target price on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Evercore ISI boosted their price target 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. Finally, Wells Fargo & Company upped their price target on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $95.36.

Medtronic Trading Down 0.4 %

Shares of MDT stock opened at $87.98 on Thursday. The company has a market capitalization of $112.83 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 2.52 and a beta of 0.84. Medtronic plc has a 52-week low of $72.08 and a 52-week high of $92.68. The business’s fifty day moving average is $89.65 and its 200 day moving average is $84.63. 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 (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 EPS. On average, equities research analysts anticipate that Medtronic plc will post 5.44 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.