Darwin Wealth Management LLC Makes New $27,000 Investment in Medtronic plc (NYSE:MDT)

Darwin Wealth Management LLC acquired a new stake in shares of Medtronic plc (NYSE:MDT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 300 shares of the medical technology company’s stock, valued at approximately $27,000.

Other large investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic during the third quarter worth about $27,000. Lynx Investment Advisory purchased a new position in shares of Medtronic in the 2nd quarter worth about $28,000. Gleason Group Inc. acquired a new position in shares of Medtronic in the 2nd quarter valued at about $42,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Medtronic during the 2nd quarter worth approximately $43,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Robert W. Baird lowered their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday. Piper Sandler raised their target price on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Truist Financial increased their price objective on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Evercore ISI upped their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Oppenheimer lifted their price target on shares of Medtronic from $92.00 to $94.00 and gave the stock 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, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Medtronic has a consensus rating of “Hold” and an average target price of $95.19.

Medtronic Stock Performance

Shares of NYSE MDT opened at $84.71 on Friday. The stock has a market capitalization of $108.63 billion, a P/E ratio of 25.90, a P/E/G ratio of 2.42 and a beta of 0.84. The firm’s 50-day moving average price is $89.07 and its two-hundred day moving average price is $84.84. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The company has a quick ratio of 1.61, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $8.27 billion. During the same quarter in the previous year, the company earned $1.25 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

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.