Axxcess Wealth Management LLC Has $425,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Axxcess Wealth Management LLC cut its position in Medtronic plc (NYSE:MDTGet Rating) by 58.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,732 shares of the medical technology company’s stock after selling 6,739 shares during the period. Axxcess Wealth Management LLC’s holdings in Medtronic were worth $425,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Castle Wealth Management LLC acquired a new stake in shares of Medtronic during the second quarter worth $28,000. Tortoise Investment Management LLC grew its position in Medtronic by 53.2% in the second quarter. Tortoise Investment Management LLC now owns 357 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 124 shares in the last quarter. West Branch Capital LLC grew its position in Medtronic by 84.8% in the second quarter. West Branch Capital LLC now owns 377 shares of the medical technology company’s stock valued at $34,000 after purchasing an additional 173 shares in the last quarter. Heritage Financial Services LLC bought a new position in Medtronic in the second quarter valued at $42,000. Finally, Fairfield Bush & CO. bought a new position in Medtronic in the first quarter valued at $47,000. 79.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on MDT shares. TheStreet downgraded shares of Medtronic from a “b-” rating to a “c+” rating in a research report on Monday, August 1st. Cowen decreased their price objective on shares of Medtronic from $117.00 to $90.00 in a research report on Wednesday. Stifel Nicolaus decreased their price objective on shares of Medtronic from $105.00 to $90.00 in a research report on Wednesday. Oppenheimer downgraded shares of Medtronic from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $106.00 to $85.00 in a research report on Wednesday. Finally, Truist Financial decreased their price objective on shares of Medtronic from $89.00 to $84.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $98.00.

Medtronic Price Performance

Shares of Medtronic stock opened at $79.02 on Thursday. The company has a 50-day simple moving average of $83.79 and a two-hundred day simple moving average of $89.87. The stock has a market capitalization of $105.03 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77. The company has a quick ratio of 1.23, a current ratio of 1.76 and a debt-to-equity ratio of 0.40. Medtronic plc has a twelve month low of $76.60 and a twelve month high of $115.28.

Medtronic (NYSE:MDTGet Rating) last issued its earnings results on Tuesday, November 22nd. The medical technology company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.28 by $0.02. The company had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.70 billion. Medtronic had a net margin of 14.03% and a return on equity of 13.52%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.32 EPS. Analysts forecast that Medtronic plc will post 5.28 EPS for the current year.

Insider Activity

In other news, EVP Hoedt Rob Ten sold 2,404 shares of the business’s stock in a transaction that occurred on Friday, October 14th. The shares were sold at an average price of $81.54, for a total value of $196,022.16. Following the completion of the transaction, the executive vice president now directly owns 43,483 shares in the company, valued at approximately $3,545,603.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Medtronic Company Profile

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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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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