River Street Advisors LLC Purchases 173 Shares of Medtronic plc (NYSE:MDT)

River Street Advisors LLC grew its position in shares of Medtronic plc (NYSE:MDT) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,894 shares of the medical technology company’s stock after buying an additional 173 shares during the quarter. River Street Advisors LLC’s holdings in Medtronic were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MDT. Evergreen Wealth Management LLC grew its stake in shares of Medtronic by 36.7% during the third quarter. Evergreen Wealth Management LLC now owns 26,202 shares of the medical technology company’s stock valued at $2,359,000 after purchasing an additional 7,037 shares during the last quarter. RIA Advisory Group LLC bought a new stake in shares of Medtronic during the third quarter valued at approximately $417,000. Maxwell Wealth Strategies Inc. grew its stake in shares of Medtronic by 5.8% during the third quarter. Maxwell Wealth Strategies Inc. now owns 15,599 shares of the medical technology company’s stock valued at $1,399,000 after purchasing an additional 852 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Medtronic by 13.3% during the third quarter. Natixis Advisors LLC now owns 1,344,210 shares of the medical technology company’s stock valued at $121,019,000 after purchasing an additional 158,299 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its stake in shares of Medtronic by 60.5% during the third quarter. Mizuho Securities USA LLC now owns 164,369 shares of the medical technology company’s stock valued at $14,798,000 after purchasing an additional 61,985 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Performance

Shares of MDT traded up $1.53 during midday trading on Friday, reaching $87.53. The stock had a trading volume of 7,952,317 shares, compared to its average volume of 6,225,400. 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. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The firm has a 50 day simple moving average of $89.48 and a 200-day simple moving average of $84.71. Medtronic plc has a one year low of $74.20 and a one year high of $92.68.

Medtronic (NYSE:MDT) last announced its earnings results 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. The business 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%. Medtronic’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 EPS. As a group, sell-side analysts anticipate that Medtronic plc will post 5.44 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Medtronic from $90.00 to $96.00 in a report on Friday. Wells Fargo & Company raised their price objective on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Evercore ISI raised their price objective on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Stifel Nicolaus raised their price objective on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Finally, Barclays raised their price objective on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $95.80.

About Medtronic

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.