Darwin Wealth Management LLC Makes New Investment in Medtronic plc (NYSE:MDT)

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

Other large investors have also added to or reduced their stakes in the company. Portfolio Design Labs LLC bought a new position in shares of Medtronic in the third quarter worth $238,000. Advisors Asset Management Inc. grew its position in Medtronic by 8.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 166,057 shares of the medical technology company’s stock worth $14,950,000 after acquiring an additional 12,461 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Medtronic in the third quarter valued at approximately $2,641,000. Prospera Private Wealth LLC bought a new position in shares of Medtronic during the third quarter valued at $7,874,000. Finally, West Family Investments Inc. acquired a new position in Medtronic during the 3rd quarter worth about $343,000. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of recent analyst reports. Robert W. Baird dropped their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday. Wells Fargo & Company cut their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday. Evercore ISI increased their price objective on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Barclays lifted their price objective on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $95.19.

Medtronic Trading Up 0.7 %

Medtronic stock opened at $84.71 on Friday. The stock has a market cap of $108.63 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 2.42 and a beta of 0.84. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.84. The stock has a 50-day moving average of $89.07 and a two-hundred day moving average of $84.84.

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 the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion during 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 company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. On average, research analysts anticipate that Medtronic plc will post 5.46 EPS 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.