FSA Wealth Management LLC Purchases New Shares in Medtronic plc (NYSE:MDT)

FSA Wealth Management LLC purchased a new position in Medtronic plc (NYSE:MDT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 803 shares of the medical technology company’s stock, valued at approximately $72,000.

Other institutional investors have also added to or reduced their stakes in the company. Clear Harbor Asset Management LLC increased its stake in shares of Medtronic by 1.2% during the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after buying an additional 111 shares during the period. First PREMIER Bank grew its holdings in Medtronic by 1.8% during the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock worth $577,000 after acquiring an additional 116 shares in the last quarter. First City Capital Management Inc. raised its holdings in shares of Medtronic by 2.9% in the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock valued at $371,000 after purchasing an additional 116 shares in the last quarter. Hardy Reed LLC lifted its position in shares of Medtronic by 4.4% in the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after purchasing an additional 116 shares during the period. Finally, Precision Wealth Strategies LLC boosted its stake in shares of Medtronic by 3.3% during the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock valued at $337,000 after purchasing an additional 118 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.3 %

Shares of MDT opened at $86.54 on Monday. The stock’s 50-day moving average price is $88.69 and its 200-day moving average price is $85.00. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $110.97 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 2.45 and a beta of 0.84. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping 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 business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the company earned $1.25 EPS. The business’s revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MDT shares. JPMorgan Chase & Co. reduced their price objective 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. Stifel Nicolaus upped their price objective on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. 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 report on Wednesday, November 20th. Citigroup boosted their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Finally, Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. One equities research 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 stock. According to data from MarketBeat, the stock currently has an average 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.