Vance Wealth Inc. Sells 26,400 Shares of Medtronic plc (NYSE:MDT)

Vance Wealth Inc. lessened its stake in shares of Medtronic plc (NYSE:MDT) by 47.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,270 shares of the medical technology company’s stock after selling 26,400 shares during the period. Medtronic comprises approximately 1.0% of Vance Wealth Inc.’s investment portfolio, making the stock its 24th biggest holding. Vance Wealth Inc.’s holdings in Medtronic were worth $2,635,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Clear Harbor Asset Management LLC increased its holdings in Medtronic by 1.2% in the third 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 boosted its stake in 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 acquiring an additional 116 shares in the last quarter. First City Capital Management Inc. boosted its stake in 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 acquiring an additional 116 shares in the last quarter. Precision Wealth Strategies LLC boosted its stake 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 valued at $337,000 after acquiring an additional 118 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its stake in Medtronic by 2.0% in the third 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. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.1 %

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 P/E/G ratio of 2.50 and a beta of 0.84. Medtronic plc has a 52-week low of $74.66 and a 52-week high of $92.68. The firm has a 50-day moving average price of $89.42 and a 200 day moving average price of $84.82. 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 posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 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 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. Equities research analysts expect that Medtronic plc will post 5.44 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barclays upped their price objective on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird upped their price objective on shares of Medtronic from $90.00 to $96.00 in a research note on Friday. Evercore ISI upped their price objective 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. Truist Financial increased their target price on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Finally, UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and increased their target price for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. One equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.