Maxwell Wealth Strategies Inc. Buys 852 Shares of Medtronic plc (NYSE:MDT)

Maxwell Wealth Strategies Inc. boosted its position in shares of Medtronic plc (NYSE:MDT) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,599 shares of the medical technology company’s stock after purchasing an additional 852 shares during the period. Maxwell Wealth Strategies Inc.’s holdings in Medtronic were worth $1,399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clear Harbor Asset Management LLC raised its position in Medtronic by 1.2% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after buying an additional 111 shares during the last quarter. First PREMIER Bank raised its holdings in shares of Medtronic by 1.8% in the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after purchasing an additional 116 shares during the last quarter. Precision Wealth Strategies LLC lifted its position in shares of Medtronic by 3.3% in the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock worth $337,000 after purchasing an additional 118 shares in the last quarter. Lake Street Advisors Group LLC boosted its holdings in Medtronic by 2.0% during the third quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock worth $547,000 after purchasing an additional 118 shares during the last quarter. Finally, Sigma Planning Corp grew its position in Medtronic by 0.4% in the third quarter. Sigma Planning Corp now owns 28,843 shares of the medical technology company’s stock valued at $2,597,000 after purchasing an additional 124 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Up 1.8 %

MDT opened at $87.53 on Friday. The firm has a 50-day simple moving average of $89.48 and a two-hundred day simple moving average of $84.71. Medtronic plc has a 52 week low of $74.20 and a 52 week high of $92.68. The company has a market capitalization of $112.25 billion, a PE ratio of 29.57, a price-to-earnings-growth ratio of 2.51 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on MDT. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Barclays lifted their target price on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial increased their target price on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Citigroup increased their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Finally, Robert W. Baird raised their target price on shares of Medtronic from $90.00 to $96.00 in a report on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic has a consensus rating of “Hold” and a consensus price target of $95.80.

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.