Avior Wealth Management LLC Has $1.23 Million Position in Medtronic plc (NYSE:MDT)

Avior Wealth Management LLC cut its holdings in Medtronic plc (NYSE:MDT) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,711 shares of the medical technology company’s stock after selling 531 shares during the quarter. Avior Wealth Management LLC’s holdings in Medtronic were worth $1,234,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Olstein Capital Management L.P. increased its holdings in shares of Medtronic by 19.2% during the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after acquiring an additional 14,000 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in Medtronic during the second quarter worth approximately $25,643,000. Ferguson Wellman Capital Management Inc. acquired a new position in Medtronic during the third quarter valued at approximately $9,486,000. Harvest Portfolios Group Inc. raised its position in shares of Medtronic by 6.5% in the third quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock valued at $62,042,000 after purchasing an additional 42,112 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Medtronic by 6.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 368,682 shares of the medical technology company’s stock worth $29,019,000 after buying an additional 21,995 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MDT shares. JPMorgan Chase & Co. dropped their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Evercore ISI upped their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Oppenheimer raised their price target on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. Wells Fargo & Company lowered their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Truist Financial lifted their price target on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $95.19.

Medtronic Stock Down 1.0 %

NYSE MDT opened at $84.11 on Thursday. The stock has a market capitalization of $107.87 billion, a P/E ratio of 25.72, a price-to-earnings-growth ratio of 2.50 and a beta of 0.84. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The stock has a fifty day moving average of $89.17 and a 200-day moving average of $84.84.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the company earned $1.25 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts forecast 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.