Main Street Financial Solutions LLC Sells 858 Shares of Medtronic plc (NYSE:MDT)

Main Street Financial Solutions LLC lowered its position in shares of Medtronic plc (NYSE:MDT) by 6.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,527 shares of the medical technology company’s stock after selling 858 shares during the period. Main Street Financial Solutions LLC’s holdings in Medtronic were worth $1,038,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mengis Capital Management Inc. raised its stake in shares of Medtronic by 1.3% during the third quarter. Mengis Capital Management Inc. now owns 89,373 shares of the medical technology company’s stock worth $8,046,000 after acquiring an additional 1,116 shares in the last quarter. RPG Investment Advisory LLC grew its holdings in shares of Medtronic by 1.6% during the 3rd quarter. RPG Investment Advisory LLC now owns 152,021 shares of the medical technology company’s stock valued at $13,686,000 after purchasing an additional 2,410 shares during the last quarter. Victory Capital Management Inc. raised its position in Medtronic by 19.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,958,421 shares of the medical technology company’s stock worth $176,317,000 after purchasing an additional 313,525 shares during the period. Aptus Capital Advisors LLC lifted its stake in Medtronic by 14.9% in the third quarter. Aptus Capital Advisors LLC now owns 11,500 shares of the medical technology company’s stock worth $1,035,000 after purchasing an additional 1,487 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in Medtronic in the third quarter worth $586,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of NYSE MDT opened at $87.98 on Thursday. Medtronic plc has a 1 year low of $72.08 and a 1 year high of $92.68. The stock has a market capitalization of $112.83 billion, a P/E ratio of 29.72, a P/E/G ratio of 2.52 and a beta of 0.84. The company’s 50-day moving average is $89.65 and its 200 day moving average is $84.63. 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 (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. During the same period in the previous year, the firm posted $1.20 EPS. The business’s revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts expect that Medtronic plc will post 5.44 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Citigroup lifted their price objective on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Evercore ISI lifted their price target on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Wells Fargo & Company increased their price objective on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Finally, UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and upped their price target for the company from $76.00 to $90.00 in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Medtronic has an average rating of “Hold” and a consensus target price of $95.36.

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.