Nwam LLC Reduces Position in Medtronic plc (NYSE:MDT)

Nwam LLC lowered its holdings in Medtronic plc (NYSE:MDT) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,562 shares of the medical technology company’s stock after selling 281 shares during the period. Nwam LLC’s holdings in Medtronic were worth $411,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the 3rd quarter valued at $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic during the third quarter valued at about $27,000. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic in the third quarter worth about $27,000. Lynx Investment Advisory bought a new position in shares of Medtronic in the second quarter valued at approximately $28,000. Finally, Gleason Group Inc. purchased a new position in Medtronic during the second quarter valued at approximately $42,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Up 1.7 %

MDT stock opened at $86.21 on Monday. The company has a market capitalization of $110.56 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.40 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.84. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The company’s 50 day moving average price is $88.99 and its two-hundred day moving average price is $84.91.

Medtronic (NYSE:MDT) last issued its 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. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the company earned $1.25 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MDT shares. Stifel Nicolaus raised their price target on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Robert W. Baird dropped their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Citigroup upped their target price on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Sanford C. Bernstein lifted their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average price target of $95.00.

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.