Medtronic plc (NYSE:MDT) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its holdings in Medtronic plc (NYSE:MDT) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 689,866 shares of the medical technology company’s stock after acquiring an additional 21,297 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.05% of Medtronic worth $60,777,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MDT. Sageworth Trust Co acquired a new position in Medtronic in the 1st quarter valued at $26,000. Venturi Wealth Management LLC boosted its position in shares of Medtronic by 48.9% during the 2nd quarter. Venturi Wealth Management LLC now owns 344 shares of the medical technology company’s stock worth $30,000 after purchasing an additional 113 shares in the last quarter. Laurel Wealth Advisors LLC boosted its position in shares of Medtronic by 250.0% during the 1st quarter. Laurel Wealth Advisors LLC now owns 350 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 250 shares in the last quarter. Trivant Custom Portfolio Group LLC purchased a new stake in shares of Medtronic during the 1st quarter worth $31,000. Finally, Certified Advisory Corp purchased a new stake in shares of Medtronic during the 1st quarter worth $31,000. 80.75% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Down 0.2 %

Medtronic stock traded down $0.12 during mid-day trading on Friday, hitting $74.76. The stock had a trading volume of 6,264,088 shares, compared to its average volume of 7,861,160. The stock has a market capitalization of $99.47 billion, a PE ratio of 27.58, a P/E/G ratio of 2.63 and a beta of 0.71. The stock has a 50-day simple moving average of $75.20 and a two-hundred day simple moving average of $82.07. The company has a current ratio of 2.42, a quick ratio of 1.79 and a debt-to-equity ratio of 0.48. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $92.02.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.09. Medtronic had a return on equity of 13.81% and a net margin of 11.47%. The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.57 billion. During the same quarter last year, the firm earned $1.13 EPS. Medtronic’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Medtronic plc will post 5.12 EPS for the current year.

Insider Buying and Selling

In other Medtronic news, EVP Gregory L. Smith sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $83.84, for a total transaction of $838,400.00. Following the transaction, the executive vice president now owns 46,723 shares in the company, valued at approximately $3,917,256.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

MDT has been the topic of several recent research reports. Oppenheimer reiterated a “market perform” rating and issued a $89.00 price objective on shares of Medtronic in a research report on Wednesday, August 23rd. Stifel Nicolaus raised their price objective on Medtronic from $92.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, August 22nd. StockNews.com started coverage on Medtronic in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Mizuho upped their target price on shares of Medtronic from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $89.00 price target on shares of Medtronic in a report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and an average target price of $91.94.

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.