W.G. Shaheen & Associates DBA Whitney & Co Purchases 1,503 Shares of Medtronic plc (NYSE:MDT)

W.G. Shaheen & Associates DBA Whitney & Co boosted its position in Medtronic plc (NYSE:MDT) by 1.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 98,394 shares of the medical technology company’s stock after purchasing an additional 1,503 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Medtronic were worth $8,858,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Clear Harbor Asset Management LLC grew its position in shares of Medtronic by 1.2% during 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 acquiring an additional 111 shares during the period. First PREMIER Bank grew its position in shares of Medtronic by 1.8% during the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after acquiring an additional 116 shares during the period. Precision Wealth Strategies LLC grew its position in shares of Medtronic by 3.3% during the 3rd quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock valued at $337,000 after acquiring an additional 118 shares during the period. Lake Street Advisors Group LLC grew its position in shares of Medtronic by 2.0% during 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 acquiring an additional 118 shares during the period. Finally, Sigma Planning Corp lifted its stake 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 buying an additional 124 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Performance

Medtronic stock opened at $87.64 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. Medtronic plc has a fifty-two week low of $74.66 and a fifty-two week high of $92.68. The firm’s fifty day moving average price is $89.42 and its 200-day moving average price is $84.82. The stock has a market cap of $112.39 billion, a P/E ratio of 29.61, a price-to-earnings-growth ratio of 2.50 and a beta of 0.84.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MDT shares. Stifel Nicolaus upped their price target on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. 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 research note on Tuesday, October 1st. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, Oppenheimer increased their target price on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Medtronic currently has an average rating of “Hold” and an average price target of $95.80.

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.