Advisors Asset Management Inc. Has $14.95 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Advisors Asset Management Inc. increased its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 8.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,057 shares of the medical technology company's stock after purchasing an additional 12,461 shares during the period. Advisors Asset Management Inc.'s holdings in Medtronic were worth $14,950,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its holdings in shares of Medtronic by 7.1% in the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company's stock worth $2,691,577,000 after acquiring an additional 2,044,109 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Medtronic by 8.3% during the second 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 during the period. Dimensional Fund Advisors LP grew its holdings in shares of Medtronic by 7.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company's stock valued at $560,494,000 after acquiring an additional 515,751 shares in the last quarter. Longview Partners Guernsey LTD grew its stake in 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 grew its stake in shares of Medtronic by 2.3% in the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company's stock valued at $575,460,000 after buying an additional 145,504 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Down 1.0 %

NYSE MDT traded down $0.89 during trading on Wednesday, reaching $84.11. 7,388,335 shares of the stock traded hands, compared to its average volume of 6,274,537. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The firm has a market cap of $107.87 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 2.50 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The stock's 50-day moving average price is $89.30 and its 200 day moving average price is $84.84.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. Medtronic's revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 earnings per share. Analysts predict that Medtronic plc will post 5.44 EPS for the current year.

Analyst Upgrades and Downgrades

MDT has been the subject of several recent analyst reports. Stifel Nicolaus upped their price target on Medtronic from $85.00 to $87.00 and gave the stock a "hold" rating in a research note on Wednesday, August 21st. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Monday. UBS Group upgraded shares of Medtronic from a "sell" rating to a "neutral" rating and raised their target price for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Citigroup boosted 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. Finally, Piper Sandler raised their price target on Medtronic from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $95.19.

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.