Nwam LLC Has $416,000 Stake in Medtronic plc (NYSE:MDT)

Nwam LLC increased its stake in Medtronic plc (NYSE:MDT) by 12.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,718 shares of the medical technology company’s stock after acquiring an additional 525 shares during the quarter. Nwam LLC’s holdings in Medtronic were worth $416,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MDT. Sageworth Trust Co bought a new stake in Medtronic in the 1st quarter valued at about $26,000. Venturi Wealth Management LLC grew its stake in Medtronic by 48.9% in the second quarter. Venturi Wealth Management LLC now owns 344 shares of the medical technology company’s stock valued at $30,000 after acquiring an additional 113 shares during the period. Laurel Wealth Advisors LLC increased its holdings in shares of Medtronic by 250.0% during the first quarter. Laurel Wealth Advisors LLC now owns 350 shares of the medical technology company’s stock valued at $28,000 after acquiring an additional 250 shares in the last quarter. Trivant Custom Portfolio Group LLC acquired a new position in shares of Medtronic during the first quarter worth approximately $31,000. Finally, Certified Advisory Corp bought a new position in shares of Medtronic in the 1st quarter worth $31,000. 80.75% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Gregory L. Smith sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $83.84, for a total value of $838,400.00. Following the completion of the transaction, the executive vice president now directly owns 46,723 shares of the company’s stock, valued at approximately $3,917,256.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.30% of the company’s stock.

Medtronic Trading Down 0.2 %

NYSE:MDT opened at $74.75 on Friday. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $92.02. The company has a current ratio of 2.42, a quick ratio of 1.79 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average is $75.20 and its 200 day moving average is $82.07. The stock has a market capitalization of $99.46 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 2.63 and a beta of 0.71.

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

Analyst Ratings Changes

A number of research firms have weighed in on MDT. Stifel Nicolaus raised their price objective on shares of Medtronic from $92.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, August 22nd. StockNews.com initiated coverage on Medtronic in a report on Thursday, October 5th. They set a “buy” rating for the company. UBS Group increased their price objective on Medtronic from $79.00 to $82.00 and gave the stock a “sell” rating in a research note on Wednesday, August 23rd. Oppenheimer reaffirmed a “market perform” rating and set a $89.00 target price on shares of Medtronic in a research report on Wednesday, August 23rd. Finally, Mizuho raised their price objective on Medtronic from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Medtronic has an average rating of “Hold” and an average target price of $91.94.

Medtronic 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.