New England Asset Management Inc. Sells 1,235 Shares of Medtronic plc (NYSE:MDT)

New England Asset Management Inc. decreased its position in Medtronic plc (NYSE:MDT) by 6.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,565 shares of the medical technology company’s stock after selling 1,235 shares during the period. New England Asset Management Inc.’s holdings in Medtronic were worth $1,581,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in shares of Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic during the 3rd quarter worth approximately $27,000. Lynx Investment Advisory acquired a new position in shares of Medtronic during the 2nd quarter worth approximately $28,000. Gleason Group Inc. acquired a new position in shares of Medtronic during the 2nd quarter worth approximately $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in Medtronic in the 2nd quarter valued at $43,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Up 0.1 %

Shares of MDT stock opened at $87.64 on Tuesday. Medtronic plc has a 52-week low of $74.66 and a 52-week high of $92.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The firm has a market capitalization of $112.39 billion, a PE ratio of 29.61, a PEG ratio of 2.50 and a beta of 0.84. The stock has a fifty day simple moving average of $89.42 and a two-hundred day simple moving average of $84.82.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping 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 company had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. During the same quarter last year, the business posted $1.20 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. On average, analysts predict that Medtronic plc will post 5.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on MDT. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday. Daiwa America raised Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Evercore ISI raised their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and raised their price objective for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $95.80.

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.