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

Prospera Financial Services Inc trimmed its holdings in Medtronic plc (NYSE:MDT) by 1.3% during the third quarter, Holdings Channel reports. The institutional investor owned 64,203 shares of the medical technology company’s stock after selling 856 shares during the quarter. Prospera Financial Services Inc’s holdings in Medtronic were worth $5,782,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several analysts have recently issued reports on MDT shares. 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday. Citigroup lifted their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Evercore ISI upped their target price on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Robert W. Baird lifted their price target on Medtronic from $90.00 to $96.00 in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $95.80.

Medtronic Stock Down 2.9 %

Shares of NYSE MDT opened at $85.01 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The company 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. Medtronic plc has a 52 week low of $74.66 and a 52 week high of $92.68. The business has a 50-day simple moving average of $89.30 and a two-hundred day simple moving average of $84.84.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. Medtronic’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $1.25 earnings per share. Research analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current fiscal 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.