Prospera Financial Services Inc Sells 856 Shares of Medtronic plc (NYSE:MDT)

Prospera Financial Services Inc decreased its position in shares of Medtronic plc (NYSE:MDT) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,203 shares of the medical technology company’s stock after selling 856 shares during the period. Prospera Financial Services Inc’s holdings in Medtronic were worth $5,782,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MDT. Capital Research Global Investors grew its position in shares of Medtronic by 7.1% during the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock worth $2,691,577,000 after purchasing an additional 2,044,109 shares in the last quarter. Pzena Investment Management LLC grew its position in Medtronic by 8.3% during the second quarter. Pzena Investment Management LLC now owns 8,307,123 shares of the medical technology company’s stock worth $653,854,000 after buying an additional 637,931 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Medtronic by 7.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock valued at $560,494,000 after acquiring an additional 515,751 shares in the last quarter. Longview Partners Guernsey LTD lifted its position in shares of Medtronic by 2.3% during the 1st quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company’s stock valued at $578,245,000 after acquiring an additional 147,737 shares during the period. Finally, Raymond James & Associates lifted its position in shares of Medtronic by 2.3% during the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock valued at $575,460,000 after acquiring an additional 145,504 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of several recent analyst reports. Robert W. Baird upped their price objective on shares of Medtronic from $90.00 to $96.00 in a research report on Friday, November 15th. Stifel Nicolaus increased their price target 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. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday. Wells Fargo & Company upped their target price on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Oppenheimer lifted their price target on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have issued 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 currently has a consensus rating of “Hold” and a consensus target price of $95.80.

Medtronic Price Performance

Medtronic stock opened at $85.01 on Wednesday. The stock’s 50 day moving average is $89.30 and its 200 day moving average is $84.84. Medtronic plc has a one year low of $74.66 and a one year high of $92.68. The firm has a market cap of $109.02 billion, a P/E ratio of 28.72, a P/E/G ratio of 2.50 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61.

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. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $1.25 earnings per share. As a group, research analysts expect that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Company 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.