Resurgent Financial Advisors LLC Sells 1,033 Shares of Medtronic plc (NYSE:MDT)

Resurgent Financial Advisors LLC trimmed its position in Medtronic plc (NYSE:MDT) by 16.6% in the 3rd quarter, Holdings Channel reports. The firm owned 5,186 shares of the medical technology company’s stock after selling 1,033 shares during the quarter. Resurgent Financial Advisors LLC’s holdings in Medtronic were worth $467,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new position in Medtronic in the 3rd quarter valued at $27,000. Darwin Wealth Management LLC bought a new position in Medtronic in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC bought a new position in Medtronic in the 3rd quarter valued at $27,000. J. Stern & Co. LLP bought a new position in Medtronic in the 3rd quarter valued at $30,000. Finally, Gleason Group Inc. bought a new position in Medtronic in the 2nd quarter valued at $42,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Oppenheimer boosted their price objective on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. decreased their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus target price of $95.27.

Medtronic Price Performance

Shares of NYSE MDT opened at $85.31 on Thursday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company’s 50-day moving average is $88.46 and its 200 day moving average is $85.01. The stock has a market capitalization of $109.39 billion, a P/E ratio of 26.09, a P/E/G ratio of 2.43 and a beta of 0.82.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 13.00% and a return on equity of 13.79%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 earnings per share. On average, sell-side analysts expect that Medtronic plc will post 5.45 earnings per share for the current year.

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.