Aberdeen Wealth Management LLC Has $1.18 Million Stock Position in Medtronic plc (NYSE:MDT)

Aberdeen Wealth Management LLC cut its holdings in shares of Medtronic plc (NYSE:MDT) by 8.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,129 shares of the medical technology company’s stock after selling 1,151 shares during the quarter. Aberdeen Wealth Management LLC’s holdings in Medtronic were worth $1,182,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MDT. Clear Harbor Asset Management LLC boosted its holdings 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 purchasing an additional 111 shares during the period. First PREMIER Bank raised its position in shares of Medtronic by 1.8% during the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after buying an additional 116 shares during the last quarter. First City Capital Management Inc. lifted its stake in shares of Medtronic by 2.9% in the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock valued at $371,000 after buying an additional 116 shares during the period. Precision Wealth Strategies LLC grew its position in Medtronic by 3.3% during the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock worth $337,000 after buying an additional 118 shares in the last quarter. Finally, Lake Street Advisors Group LLC raised its holdings 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 acquiring an additional 118 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Performance

NYSE:MDT opened at $87.64 on Tuesday. The stock has a market capitalization 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 plc has a 1 year low of $74.66 and a 1 year high of $92.68. The firm has a 50 day moving average of $89.42 and a 200-day moving average of $84.82. 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 (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the company posted $1.25 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Medtronic plc will post 5.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MDT. Citigroup boosted their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Piper Sandler boosted their price target on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Oppenheimer lifted their target price on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.