Financial Counselors Inc. Sells 5,214 Shares of Medtronic plc (NYSE:MDT)

Financial Counselors Inc. trimmed its position in Medtronic plc (NYSE:MDT) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 218,289 shares of the medical technology company’s stock after selling 5,214 shares during the period. Financial Counselors Inc.’s holdings in Medtronic were worth $19,653,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Fortitude Family Office LLC purchased a new position in shares of Medtronic in the third quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new position in Medtronic in the third quarter worth approximately $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic during the 3rd quarter worth $27,000. Lynx Investment Advisory bought a new stake in shares of Medtronic during the 2nd quarter valued at $28,000. Finally, J. Stern & Co. LLP purchased a new stake in shares of Medtronic in the 3rd quarter worth $30,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 0.7 %

Shares of MDT stock opened at $86.29 on Thursday. The company’s fifty day simple moving average is $88.81 and its two-hundred day simple moving average is $84.96. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The stock has a market cap of $110.66 billion, a P/E ratio of 26.39, a PEG ratio of 2.43 and a beta of 0.84. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last posted its earnings results 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. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 earnings per share. Analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on MDT shares. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Oppenheimer lifted their price objective on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. reduced their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. 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. Finally, Evercore ISI increased their price objective on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus target price of $95.27.

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.