Pekin Hardy Strauss Inc. Sells 3,565 Shares of Medtronic plc (NYSE:MDT)

Pekin Hardy Strauss Inc. cut its holdings in Medtronic plc (NYSE:MDT) by 4.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,564 shares of the medical technology company’s stock after selling 3,565 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Medtronic were worth $6,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. 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 Medtronic during the 3rd quarter valued at $27,000. Darwin Wealth Management LLC bought a new position in Medtronic in the 3rd quarter worth $27,000. Lynx Investment Advisory purchased a new stake in shares of Medtronic in the 2nd quarter worth about $28,000. Finally, Gleason Group Inc. bought a new stake in shares of Medtronic during the 2nd quarter valued at about $42,000. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Up 1.7 %

Shares of NYSE MDT opened at $86.21 on Friday. The firm’s 50 day moving average price is $88.99 and its 200-day moving average price is $84.89. Medtronic plc has a 52-week low of $75.96 and a 52-week 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 company has a market cap of $110.56 billion, a PE ratio of 26.36, a P/E/G ratio of 2.40 and a beta of 0.84.

Medtronic (NYSE:MDT) last released 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 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 firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 EPS. On average, equities research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Daiwa America raised Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Barclays lifted their price target on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Wells Fargo & Company decreased their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $95.00.

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.