RIA Advisory Group LLC Acquires Shares of 4,627 Medtronic plc (NYSE:MDT)

RIA Advisory Group LLC bought a new position in Medtronic plc (NYSE:MDT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,627 shares of the medical technology company’s stock, valued at approximately $417,000.

Several other large investors have also recently modified their holdings of MDT. Nwam LLC boosted its holdings in shares of Medtronic by 3.2% in the first quarter. Nwam LLC now owns 4,492 shares of the medical technology company’s stock worth $371,000 after buying an additional 141 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in shares of Medtronic by 3.4% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,118 shares of the medical technology company’s stock worth $359,000 after buying an additional 137 shares during the period. Nicolet Advisory Services LLC purchased a new position in shares of Medtronic during the 1st quarter valued at about $247,000. TIAA Trust National Association grew its stake in shares of Medtronic by 16.1% during the 1st quarter. TIAA Trust National Association now owns 8,083 shares of the medical technology company’s stock valued at $704,000 after acquiring an additional 1,119 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Medtronic in the 1st quarter worth approximately $1,616,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of a number of recent analyst reports. Robert W. Baird upped their price target on shares of Medtronic from $90.00 to $96.00 in a research report on Friday. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Wells Fargo & Company boosted their price objective on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Finally, UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $95.80.

Medtronic Trading Up 1.8 %

MDT stock opened at $87.53 on Friday. Medtronic plc has a 12 month low of $74.20 and a 12 month high of $92.68. The firm’s 50-day moving average is $89.48 and its 200 day moving average is $84.71. The company has a market capitalization of $112.25 billion, a PE ratio of 29.57, a P/E/G ratio of 2.51 and a beta of 0.84. 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 issued its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The business had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company posted $1.20 earnings per share. On average, research analysts anticipate that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Company 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.