Vectors Research Management LLC Sells 427 Shares of Medtronic plc (NYSE:MDT)

Vectors Research Management LLC trimmed its stake in shares of Medtronic plc (NYSE:MDT) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,362 shares of the medical technology company’s stock after selling 427 shares during the quarter. Vectors Research Management LLC’s holdings in Medtronic were worth $1,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Medtronic Stock Down 2.3 %

Shares of Medtronic stock opened at $85.97 on Friday. Medtronic plc has a 12-month low of $72.79 and a 12-month high of $92.68. The company’s fifty day simple moving average is $89.59 and its two-hundred day simple moving average is $84.66. 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 company has a market cap of $110.25 billion, a P/E ratio of 29.04, a PEG ratio of 2.51 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The company had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 earnings per share. Research analysts anticipate that Medtronic plc will post 5.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Robert W. Baird increased their price target on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research 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. Truist Financial upped their target price on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a report on Monday, October 14th. Barclays lifted their price target on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and increased their price target for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $95.36.

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.