FSA Wealth Management LLC Takes Position in Medtronic plc (NYSE:MDT)

FSA Wealth Management LLC purchased a new position in Medtronic plc (NYSE:MDT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 803 shares of the medical technology company’s stock, valued at approximately $72,000.

A number of other large investors also recently added to or reduced their stakes in the stock. First Hawaiian Bank boosted its holdings in Medtronic by 3.2% in the 2nd quarter. First Hawaiian Bank now owns 18,409 shares of the medical technology company’s stock worth $1,449,000 after buying an additional 571 shares during the last quarter. Mather Group LLC. boosted its stake in shares of Medtronic by 6.3% in the second quarter. Mather Group LLC. now owns 3,304 shares of the medical technology company’s stock worth $288,000 after acquiring an additional 197 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of Medtronic during the second quarter worth approximately $28,000. Value Partners Investments Inc. raised its stake in Medtronic by 6.2% in the 2nd quarter. Value Partners Investments Inc. now owns 86,389 shares of the medical technology company’s stock valued at $6,800,000 after purchasing an additional 5,006 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new position in Medtronic in the 2nd quarter valued at $45,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MDT shares. Wells Fargo & Company lowered their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Barclays upped their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Oppenheimer boosted their target price on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $95.27.

Medtronic Stock Up 0.3 %

MDT stock opened at $86.54 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The company has a fifty day moving average price of $88.69 and a 200 day moving average price of $85.00. The company has a market cap of $110.97 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.45 and a beta of 0.84.

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

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.