Kingsview Wealth Management LLC Grows Position in Medtronic plc (NYSE:MDT)

Kingsview Wealth Management LLC boosted its position in Medtronic plc (NYSE:MDT) by 11.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,949 shares of the medical technology company’s stock after purchasing an additional 2,197 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Medtronic were worth $1,886,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ascent Group LLC grew its holdings in Medtronic by 17.4% in the first quarter. Ascent Group LLC now owns 3,349 shares of the medical technology company’s stock worth $292,000 after purchasing an additional 497 shares during the period. B. Riley Wealth Advisors Inc. increased its position in Medtronic by 27.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 40,468 shares of the medical technology company’s stock valued at $3,527,000 after buying an additional 8,792 shares in the last quarter. Meiji Yasuda Life Insurance Co raised its stake in Medtronic by 25.8% during the first quarter. Meiji Yasuda Life Insurance Co now owns 15,809 shares of the medical technology company’s stock valued at $1,378,000 after buying an additional 3,241 shares during the last quarter. Tidal Investments LLC boosted its holdings in Medtronic by 7.7% in the first quarter. Tidal Investments LLC now owns 72,529 shares of the medical technology company’s stock worth $6,320,000 after acquiring an additional 5,201 shares in the last quarter. Finally, Semmax Financial Advisors Inc. grew its stake in shares of Medtronic by 1.7% in the first quarter. Semmax Financial Advisors Inc. now owns 49,062 shares of the medical technology company’s stock worth $4,098,000 after acquiring an additional 831 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT opened at $85.75 on Tuesday. The company’s 50 day moving average is $88.91 and its 200 day moving average is $84.93. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The company has a market cap of $109.97 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 2.44 and a beta of 0.84. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of analyst reports. Sanford C. Bernstein upped their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Stifel Nicolaus upped their target price on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Evercore ISI raised 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. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Finally, Wells Fargo & Company reduced their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus price target of $95.00.

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.