Aptus Capital Advisors LLC Acquires 1,487 Shares of Medtronic plc (NYSE:MDT)

Aptus Capital Advisors LLC raised its stake in Medtronic plc (NYSE:MDT) by 14.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,500 shares of the medical technology company’s stock after buying an additional 1,487 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Medtronic were worth $1,035,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MDT. Fortitude Family Office LLC bought a new position in Medtronic during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic during the third quarter worth about $27,000. Lynx Investment Advisory bought a new stake in Medtronic in the 2nd quarter valued at approximately $28,000. Gleason Group Inc. bought a new stake in Medtronic in the 2nd quarter valued at approximately $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in Medtronic during the 2nd quarter worth approximately $43,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Citigroup boosted their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Stifel Nicolaus raised their price objective on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and upped their target price for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Finally, Wells Fargo & Company increased their price target on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have assigned 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 stock has an average rating of “Hold” and an average price target of $95.36.

Medtronic Stock Performance

NYSE MDT opened at $85.97 on Friday. Medtronic plc has a 52-week low of $72.79 and a 52-week high of $92.68. The stock has a market cap of $110.25 billion, a PE ratio of 29.37, a P/E/G ratio of 2.52 and a beta of 0.84. The firm has a 50-day moving average of $89.59 and a 200-day moving average of $84.66. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13.

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

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.