Davis R M Inc. Sells 1,703 Shares of Medtronic plc (NYSE:MDT)

Davis R M Inc. lessened its position in Medtronic plc (NYSE:MDT) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 276,647 shares of the medical technology company’s stock after selling 1,703 shares during the quarter. Davis R M Inc.’s holdings in Medtronic were worth $24,373,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MDT. Fairfield Bush & CO. bought a new stake in Medtronic in the first quarter valued at about $47,000. MAS Advisors LLC increased its stake in Medtronic by 10.3% in the first quarter. MAS Advisors LLC now owns 2,388 shares of the medical technology company’s stock valued at $266,000 after acquiring an additional 223 shares during the period. LSV Asset Management increased its stake in Medtronic by 34.5% in the first quarter. LSV Asset Management now owns 7,400 shares of the medical technology company’s stock valued at $821,000 after acquiring an additional 1,900 shares during the period. NewEdge Advisors LLC increased its stake in Medtronic by 22.8% in the first quarter. NewEdge Advisors LLC now owns 74,914 shares of the medical technology company’s stock valued at $8,312,000 after acquiring an additional 13,895 shares during the period. Finally, Kinneret Advisory LLC increased its stake in Medtronic by 2.3% in the first quarter. Kinneret Advisory LLC now owns 15,340 shares of the medical technology company’s stock valued at $1,712,000 after acquiring an additional 343 shares during the period. Institutional investors own 80.75% of the company’s stock.

Insider Transactions at Medtronic

In related news, EVP Gregory L. Smith sold 10,000 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $83.84, for a total transaction of $838,400.00. Following the completion of the transaction, the executive vice president now owns 46,723 shares in the company, valued at $3,917,256.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MDT. UBS Group upped their target price on shares of Medtronic from $79.00 to $82.00 and gave the company a “sell” rating in a research note on Wednesday, August 23rd. Stifel Nicolaus boosted their price target on shares of Medtronic from $92.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, August 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $89.00 price target on shares of Medtronic in a research report on Wednesday, August 23rd. StockNews.com started coverage on shares of Medtronic in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company boosted their price target on shares of Medtronic from $100.00 to $102.00 and gave the company an “overweight” rating in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $91.94.

Medtronic Stock Up 1.0 %

Shares of NYSE:MDT opened at $75.50 on Monday. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.02. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.79 and a current ratio of 2.42. The company has a market capitalization of $100.46 billion, a PE ratio of 27.59, a PEG ratio of 2.63 and a beta of 0.71. The company has a 50 day moving average price of $75.20 and a two-hundred day moving average price of $81.95.

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

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.