Maxwell Wealth Strategies Inc. Has $1.40 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Maxwell Wealth Strategies Inc. raised its holdings in Medtronic plc (NYSE:MDT) by 5.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,599 shares of the medical technology company’s stock after buying an additional 852 shares during the quarter. Maxwell Wealth Strategies Inc.’s holdings in Medtronic were worth $1,399,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Capital Research Global Investors grew its position in Medtronic by 7.1% during the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock worth $2,691,577,000 after buying an additional 2,044,109 shares in the last quarter. Pzena Investment Management LLC grew its holdings in shares of Medtronic by 8.3% during the 2nd quarter. Pzena Investment Management LLC now owns 8,307,123 shares of the medical technology company’s stock worth $653,854,000 after purchasing an additional 637,931 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Medtronic by 7.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock valued at $560,494,000 after purchasing an additional 515,751 shares during the period. Longview Partners Guernsey LTD raised its stake in shares of Medtronic by 2.3% in the first quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company’s stock valued at $578,245,000 after purchasing an additional 147,737 shares in the last quarter. Finally, Raymond James & Associates lifted its position in Medtronic by 2.3% in the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock worth $575,460,000 after purchasing an additional 145,504 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Up 1.8 %

Shares of NYSE:MDT opened at $87.53 on Friday. The company has a 50 day moving average price of $89.48 and a two-hundred day moving average price of $84.71. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The company has a market capitalization of $112.25 billion, a PE ratio of 29.57, a PEG ratio of 2.51 and a beta of 0.84. Medtronic plc has a 52 week low of $74.20 and a 52 week high of $92.68.

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 analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. During the same quarter in the prior year, the company earned $1.20 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts forecast that Medtronic plc will post 5.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MDT. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and increased their target price for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Robert W. Baird boosted their price target on Medtronic from $90.00 to $96.00 in a research note on Friday. Citigroup increased their price objective on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Finally, Barclays increased their target price on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.80.

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.