Shum Financial Group Inc. Invests $971,000 in Medtronic plc (NYSE:MDT)

Shum Financial Group Inc. bought a new position in shares of Medtronic plc (NYSE:MDT) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,827 shares of the medical technology company’s stock, valued at approximately $971,000.

A number of other large investors also recently made changes to their positions in MDT. Clear Harbor Asset Management LLC lifted its position in shares of Medtronic by 1.2% during the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after acquiring an additional 111 shares in the last quarter. First PREMIER Bank lifted its position in shares of Medtronic by 1.8% during the third 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 in the last quarter. First City Capital Management Inc. lifted its position in shares of Medtronic by 2.9% during the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after acquiring an additional 116 shares in the last quarter. Precision Wealth Strategies LLC lifted its position in shares of Medtronic by 3.3% during the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock worth $337,000 after acquiring an additional 118 shares in the last quarter. Finally, Lake Street Advisors Group LLC lifted its position in shares of Medtronic by 2.0% during the third quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock worth $547,000 after acquiring an additional 118 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 0.2 %

Shares of NYSE MDT traded down $0.21 during trading hours on Tuesday, hitting $85.54. The company’s stock had a trading volume of 561,648 shares, compared to its average volume of 6,266,299. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The stock has a market cap of $109.70 billion, a price-to-earnings ratio of 26.22, a P/E/G ratio of 2.44 and a beta of 0.84. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The business has a 50-day simple moving average of $88.91 and a 200-day simple moving average of $84.93.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. Medtronic’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. On average, analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on MDT. Wells Fargo & Company dropped their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Robert W. Baird lowered their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Evercore ISI raised their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have issued 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, the company currently has an average rating of “Hold” and an average price target of $95.27.

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.