Medtronic plc (NYSE:MDT) is Miramar Capital LLC’s 10th Largest Position

Miramar Capital LLC grew its holdings in Medtronic plc (NYSE:MDT) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 152,167 shares of the medical technology company’s stock after buying an additional 2,163 shares during the quarter. Medtronic comprises 3.2% of Miramar Capital LLC’s investment portfolio, making the stock its 10th biggest holding. Miramar Capital LLC’s holdings in Medtronic were worth $13,700,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new position in shares of Medtronic during the 3rd quarter worth $27,000. Highline Wealth Partners LLC bought a new position in Medtronic during the 3rd quarter worth approximately $27,000. Lynx Investment Advisory acquired a new stake in shares of Medtronic during the second quarter worth $28,000. Gleason Group Inc. acquired a new stake in Medtronic during the second quarter worth about $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in Medtronic during the 2nd quarter valued at approximately $43,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of MDT stock opened at $87.53 on Friday. The company has a market capitalization of $112.25 billion, a P/E ratio of 29.57, a P/E/G ratio of 2.51 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. Medtronic plc has a 12 month low of $74.20 and a 12 month high of $92.68. The stock has a 50 day moving average of $89.48 and a two-hundred day moving average of $84.71.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The company had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $1.20 earnings per share. As a group, equities analysts expect that Medtronic plc will post 5.44 EPS for the current year.

Analyst Ratings Changes

MDT has been the subject of several recent analyst reports. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Barclays lifted their price objective on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Evercore ISI raised their price target on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Stifel Nicolaus raised their price target on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $95.80.

Medtronic Company 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.