Medtronic plc (NYSE:MDT) Shares Sold by Schulhoff & Co. Inc.

Schulhoff & Co. Inc. lessened its stake in Medtronic plc (NYSE:MDT) by 4.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,375 shares of the medical technology company’s stock after selling 725 shares during the period. Schulhoff & Co. Inc.’s holdings in Medtronic were worth $1,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Medtronic Stock Performance

Shares of NYSE:MDT opened at $87.98 on Thursday. The business has a 50-day moving average of $89.59 and a two-hundred day moving average of $84.66. The firm has a market capitalization of $112.83 billion, a PE ratio of 29.72, a P/E/G ratio of 2.52 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 plc has a 12 month low of $72.08 and a 12 month high of $92.68.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MDT shares. Stifel Nicolaus increased their target price on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Wells Fargo & Company upped their target price on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, Oppenheimer lifted their target price 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus price target of $95.36.

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.