Medtronic plc (NYSE:MDT) Shares Bought by True Wealth Design LLC

True Wealth Design LLC raised its stake in shares of Medtronic plc (NYSE:MDT) by 1,793.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 568 shares of the medical technology company’s stock after buying an additional 538 shares during the period. True Wealth Design LLC’s holdings in Medtronic were worth $51,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MDT. Fortitude Family Office LLC purchased a new position in shares of Medtronic during the third quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic during the 3rd quarter worth $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic during the third quarter worth $27,000. Lynx Investment Advisory purchased a new stake in shares of Medtronic in the second quarter valued at $28,000. Finally, J. Stern & Co. LLP acquired a new position in Medtronic in the third quarter valued at $30,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.3 %

Shares of MDT opened at $86.54 on Monday. The stock’s 50-day moving average is $88.69 and its two-hundred day moving average is $85.00. The stock has a market cap of $110.97 billion, a PE ratio of 26.46, a P/E/G ratio of 2.45 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68.

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

Analyst Ratings Changes

MDT has been the topic of a number of research analyst reports. Robert W. Baird decreased their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Piper Sandler boosted their target price on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. dropped their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Wells Fargo & Company decreased their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $76.00 to $90.00 in a 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $95.27.

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.