Archer Investment Corp Has $64,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Archer Investment Corp raised its position in Medtronic plc (NYSE:MDT) by 39.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 716 shares of the medical technology company’s stock after purchasing an additional 201 shares during the period. Archer Investment Corp’s holdings in Medtronic were worth $64,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth approximately $27,000. Lynx Investment Advisory bought a new stake in shares of Medtronic in the 2nd quarter valued at $28,000. Gleason Group Inc. acquired a new position in shares of Medtronic during the 2nd quarter valued at $42,000. Finally, Opal Wealth Advisors LLC bought a new position in Medtronic during the second quarter worth $43,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Evercore ISI upped their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Oppenheimer raised their price objective on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. Finally, Piper Sandler boosted their target price on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $95.80.

Medtronic Trading Up 1.8 %

Shares of Medtronic stock opened at $87.53 on Friday. The firm has a market cap of $112.25 billion, a PE ratio of 29.57, a P/E/G ratio of 2.51 and a beta of 0.84. Medtronic plc has a 1 year low of $74.20 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. The stock has a fifty day moving average price of $89.48 and a 200-day moving average price of $84.71.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities research 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.