Summit Trail Advisors LLC Has $1.31 Million Stock Position in Medtronic plc (NYSE:MDT)

Summit Trail Advisors LLC cut its holdings in Medtronic plc (NYSE:MDT) by 2.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,397 shares of the medical technology company’s stock after selling 415 shares during the period. Summit Trail Advisors LLC’s holdings in Medtronic were worth $1,306,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in Medtronic during the third quarter worth about $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new position in Medtronic in the third quarter valued at approximately $27,000. Lynx Investment Advisory bought a new stake in Medtronic during the second quarter worth $28,000. Finally, Gleason Group Inc. acquired a new stake in shares of Medtronic in the 2nd quarter valued at $42,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MDT. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Sanford C. Bernstein lifted their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Wells Fargo & Company lowered their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, Citigroup lifted their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Price Performance

NYSE:MDT opened at $86.21 on Monday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The stock has a fifty day moving average of $88.99 and a 200 day moving average of $84.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The firm has a market capitalization of $110.56 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 2.44 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the firm posted $1.25 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Company 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.