Strengthening Families & Communities LLC Purchases 1,622 Shares of Medtronic plc (NYSE:MDT)

Strengthening Families & Communities LLC increased its holdings in shares of Medtronic plc (NYSE:MDT) by 8.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 21,285 shares of the medical technology company’s stock after purchasing an additional 1,622 shares during the period. Strengthening Families & Communities LLC’s holdings in Medtronic were worth $1,916,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new position in shares of Medtronic in the third quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic in the third quarter valued at approximately $27,000. Lynx Investment Advisory bought a new position in shares of Medtronic during the second quarter worth approximately $28,000. Gleason Group Inc. acquired a new stake in Medtronic during the 2nd quarter worth approximately $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in Medtronic in the 2nd quarter valued at $43,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Up 1.8 %

MDT opened at $87.53 on Monday. Medtronic plc has a fifty-two week low of $74.20 and a fifty-two week high of $92.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The firm has a market capitalization of $112.25 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 2.50 and a beta of 0.84. The company’s 50 day moving average price is $89.48 and its two-hundred day moving average price is $84.77.

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, research analysts predict that Medtronic plc will post 5.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Citigroup upped their target price on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Wells Fargo & Company increased their price objective on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Robert W. Baird boosted their target price on shares of Medtronic from $90.00 to $96.00 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic has an average rating of “Hold” and a consensus price target of $95.80.

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.