Ashton Thomas Private Wealth LLC Sells 1,166 Shares of Medtronic plc (NYSE:MDT)

Ashton Thomas Private Wealth LLC trimmed its position in shares of Medtronic plc (NYSE:MDT) by 8.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,395 shares of the medical technology company’s stock after selling 1,166 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Medtronic were worth $1,206,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Clear Harbor Asset Management LLC boosted its stake in shares of 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 worth $861,000 after buying an additional 111 shares during the last quarter. First PREMIER Bank lifted its holdings in Medtronic by 1.8% during the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock worth $577,000 after acquiring an additional 116 shares during the period. Precision Wealth Strategies LLC boosted its position in 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 during the last quarter. Lake Street Advisors Group LLC grew its stake in Medtronic by 2.0% in the 3rd quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock valued at $547,000 after purchasing an additional 118 shares during the period. Finally, Sigma Planning Corp increased its position in shares of Medtronic by 0.4% during the 3rd 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 during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MDT shares. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Truist Financial boosted their target price on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Stifel Nicolaus raised their price target on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Finally, Piper Sandler increased their price objective on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $95.36.

Medtronic Trading Down 0.4 %

Shares of Medtronic stock opened at $87.98 on Thursday. The company’s 50-day moving average price is $89.65 and its 200-day moving average price is $84.63. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. Medtronic plc has a 12-month low of $72.08 and a 12-month high of $92.68. The company has a market cap of $112.83 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 2.52 and a beta of 0.84.

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

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.