Motley Fool Wealth Management LLC Cuts Holdings in Medtronic plc (NYSE:MDT)

Motley Fool Wealth Management LLC trimmed its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 9.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,297 shares of the medical technology company's stock after selling 8,915 shares during the period. Motley Fool Wealth Management LLC's holdings in Medtronic were worth $7,769,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fortitude Family Office LLC purchased a new position in shares of Medtronic during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic during the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic during the 3rd quarter worth approximately $27,000. J. Stern & Co. LLP purchased a new position in shares of Medtronic during the 3rd quarter worth approximately $30,000. Finally, Gleason Group Inc. acquired a new stake in shares of Medtronic in the 2nd quarter worth approximately $42,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.3 %

Shares of MDT stock traded down $0.27 during mid-day trading on Wednesday, hitting $85.44. 2,777,204 shares of the company's stock were exchanged, compared to its average volume of 6,255,282. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The stock has a 50-day simple moving average of $88.54 and a two-hundred day simple moving average of $85.00. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The stock has a market cap of $109.56 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 2.45 and a beta of 0.82.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business's revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 earnings per share. Equities analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MDT. Daiwa America upgraded Medtronic to a "strong-buy" rating in a report on Friday, August 23rd. JPMorgan Chase & Co. lowered their price target on Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a report on Friday, November 15th. Sanford C. Bernstein upped their price target on Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Wells Fargo & Company lowered their price target on Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, November 20th. Finally, Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $95.27.

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.