Harbour Investments Inc. Has $850,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Harbour Investments Inc. decreased its position in Medtronic plc (NYSE:MDT) by 14.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,445 shares of the medical technology company’s stock after selling 1,546 shares during the period. Harbour Investments Inc.’s holdings in Medtronic were worth $850,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Olstein Capital Management L.P. boosted its position in shares of Medtronic by 19.2% during 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 acquiring an additional 14,000 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Medtronic in the 2nd quarter valued at approximately $25,643,000. National Bank of Canada FI raised its holdings in shares of Medtronic by 13.6% in the 1st quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company’s stock worth $21,642,000 after buying an additional 31,195 shares in the last quarter. Harvest Portfolios Group Inc. raised its holdings in shares of Medtronic by 6.5% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock worth $62,042,000 after buying an additional 42,112 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Medtronic by 6.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 368,682 shares of the medical technology company’s stock worth $29,019,000 after buying an additional 21,995 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and boosted their price target for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Oppenheimer raised their price objective on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $95.80.

Medtronic Trading Up 1.8 %

MDT stock opened at $87.53 on Friday. 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 plc has a twelve month low of $74.20 and a twelve month high of $92.68. The company has a market cap of $112.25 billion, a P/E ratio of 29.53, a PEG ratio of 2.51 and a beta of 0.84. The business has a fifty day moving average of $89.52 and a 200-day moving average of $84.67.

Medtronic (NYSE:MDT) last announced its quarterly earnings data 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. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. During the same period in the previous year, the business posted $1.20 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts expect that Medtronic plc will post 5.44 EPS for the current year.

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.