Medtronic plc (NYSE:MDT) Shares Sold by New England Asset Management Inc.

New England Asset Management Inc. lessened its stake in Medtronic plc (NYSE:MDT) by 6.6% in the 3rd quarter, Holdings Channel reports. The firm owned 17,565 shares of the medical technology company’s stock after selling 1,235 shares during the period. New England Asset Management Inc.’s holdings in Medtronic were worth $1,581,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Clear Harbor Asset Management LLC boosted its position in Medtronic by 1.2% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after acquiring an additional 111 shares in the last quarter. First PREMIER Bank lifted its position 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 during the period. Precision Wealth Strategies LLC lifted its holdings in shares of Medtronic by 3.3% in the 3rd quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock valued at $337,000 after buying an additional 118 shares during the period. Lake Street Advisors Group LLC lifted its holdings in shares of Medtronic by 2.0% in the 3rd quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock valued at $547,000 after buying an additional 118 shares during the period. Finally, Sigma Planning Corp increased its stake in shares of Medtronic by 0.4% in the 3rd quarter. Sigma Planning Corp now owns 28,843 shares of the medical technology company’s stock valued at $2,597,000 after purchasing an additional 124 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of a number of analyst reports. Oppenheimer upped their price target on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. Robert W. Baird raised their price objective on Medtronic from $90.00 to $96.00 in a report on Friday. Evercore ISI raised their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company raised their price objective on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Barclays lifted their target price on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $95.80.

Medtronic Stock Up 0.1 %

Shares of NYSE MDT opened at $87.64 on Tuesday. The company has a 50 day simple moving average of $89.42 and a 200 day simple moving average of $84.82. The firm has a market cap of $112.39 billion, a PE ratio of 29.61, a price-to-earnings-growth ratio of 2.50 and a beta of 0.84. Medtronic plc has a 1 year low of $74.66 and a 1 year high of $92.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. Medtronic’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 EPS. On average, research analysts forecast that Medtronic plc will post 5.44 EPS 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.