Medtronic plc (NYSE:MDT) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC lowered its position in Medtronic plc (NYSE:MDT) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Lake Street Advisors Group LLC acquired a new position in Medtronic during the 1st quarter valued at about $498,000. CreativeOne Wealth LLC increased its stake in shares of Medtronic by 31.3% during the first quarter. CreativeOne Wealth LLC now owns 5,456 shares of the medical technology company’s stock valued at $475,000 after acquiring an additional 1,300 shares during the period. Freestone Capital Holdings LLC raised its holdings in Medtronic by 3.0% during the first quarter. Freestone Capital Holdings LLC now owns 24,350 shares of the medical technology company’s stock worth $2,122,000 after purchasing an additional 708 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in Medtronic by 8.7% in the first quarter. Axxcess Wealth Management LLC now owns 27,536 shares of the medical technology company’s stock worth $2,400,000 after purchasing an additional 2,194 shares during the period. Finally, Envoi LLC bought a new position in Medtronic during the 1st quarter valued at $26,145,000. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MDT. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday. Evercore ISI upped their price target on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Barclays increased their target price on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Sanford C. Bernstein lifted their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $95.19.

Medtronic Price Performance

Shares of MDT opened at $84.11 on Thursday. 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 company has a market capitalization of $107.87 billion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 2.50 and a beta of 0.84. The business’s 50-day moving average is $89.17 and its 200-day moving average is $84.84. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. Equities research analysts expect that Medtronic plc will post 5.44 EPS for the current fiscal 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.