Widmann Financial Services Inc. Sells 192 Shares of Medtronic plc (NYSE:MDT)

Widmann Financial Services Inc. decreased its position in shares of Medtronic plc (NYSE:MDT) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,157 shares of the medical technology company’s stock after selling 192 shares during the quarter. Widmann Financial Services Inc.’s holdings in Medtronic were worth $284,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MDT. Olstein Capital Management L.P. grew its holdings in shares of Medtronic by 19.2% in the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after buying an additional 14,000 shares during the period. Manning & Napier Advisors LLC bought a new position in Medtronic during the second quarter worth about $25,643,000. Ferguson Wellman Capital Management Inc. acquired a new position in Medtronic in the third quarter valued at about $9,486,000. Harvest Portfolios Group Inc. increased its holdings in shares of Medtronic by 6.5% in the third quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock worth $62,042,000 after acquiring an additional 42,112 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Medtronic by 6.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 368,682 shares of the medical technology company’s stock worth $29,019,000 after purchasing an additional 21,995 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MDT. Daiwa America raised Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Oppenheimer increased their price objective on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Truist Financial increased their target price on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. dropped their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and an average target price of $95.27.

Medtronic Price Performance

Medtronic stock opened at $86.54 on Friday. The stock has a market cap of $110.98 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 2.44 and a beta of 0.84. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The business has a 50-day simple moving average of $88.69 and a 200 day simple moving average of $84.99. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68.

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, topping the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the business earned $1.25 earnings per share. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal 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.