Frazier Financial Advisors LLC Has $45,000 Position in Medtronic plc (NYSE:MDT)

Frazier Financial Advisors LLC lowered its position in shares of Medtronic plc (NYSE:MDT) by 19.6% in the third quarter, Holdings Channel reports. The firm owned 495 shares of the medical technology company’s stock after selling 121 shares during the period. Frazier Financial Advisors LLC’s holdings in Medtronic were worth $45,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic in the third quarter valued at approximately $27,000. Lynx Investment Advisory acquired a new position in shares of Medtronic in the second quarter valued at approximately $28,000. Gleason Group Inc. acquired a new position in shares of Medtronic in the second quarter valued at approximately $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Medtronic in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MDT. Piper Sandler upped 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. Citigroup boosted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Robert W. Baird boosted their price objective on shares of Medtronic from $90.00 to $96.00 in a research report on Friday. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Finally, Stifel Nicolaus boosted their price objective on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $95.80.

Medtronic Stock Performance

NYSE MDT opened at $87.53 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The firm’s fifty day moving average price is $89.48 and its two-hundred day moving average price is $84.74. Medtronic plc has a 1 year low of $74.20 and a 1 year high of $92.68. The firm has a market capitalization of $112.25 billion, a P/E ratio of 29.57, a price-to-earnings-growth ratio of 2.50 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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 firm had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. During the same period in the previous year, the company earned $1.20 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, research analysts anticipate that Medtronic plc will post 5.44 EPS for the current year.

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.