Bellevue Group AG Grows Stake in Medtronic plc (NYSE:MDT)

Bellevue Group AG lifted its holdings in Medtronic plc (NYSE:MDT - Free Report) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,008,633 shares of the medical technology company's stock after acquiring an additional 6,886 shares during the quarter. Medtronic accounts for 1.5% of Bellevue Group AG's holdings, making the stock its 21st biggest position. Bellevue Group AG owned approximately 0.08% of Medtronic worth $90,807,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Edgestream Partners L.P. lifted its holdings in shares of Medtronic by 682.9% in the 3rd quarter. Edgestream Partners L.P. now owns 23,737 shares of the medical technology company's stock valued at $2,137,000 after buying an additional 20,705 shares during the period. PDT Partners LLC acquired a new position in Medtronic in the third quarter valued at approximately $522,000. Fred Alger Management LLC grew its stake in shares of Medtronic by 6.9% during the 3rd quarter. Fred Alger Management LLC now owns 36,801 shares of the medical technology company's stock worth $3,313,000 after purchasing an additional 2,390 shares during the period. Vinva Investment Management Ltd increased its holdings in shares of Medtronic by 11.4% during the 3rd quarter. Vinva Investment Management Ltd now owns 66,203 shares of the medical technology company's stock valued at $5,913,000 after purchasing an additional 6,757 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Medtronic by 436.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock valued at $661,125,000 after purchasing an additional 5,975,110 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Up 0.3 %

MDT traded up $0.27 during mid-day trading on Friday, hitting $86.54. 3,543,192 shares of the stock were exchanged, compared to its average volume of 6,752,262. The company has a market cap of $110.97 billion, a PE ratio of 26.46, a PEG ratio of 2.45 and a beta of 0.84. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The firm's fifty day moving average is $88.69 and its two-hundred day moving average is $85.00. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $8.27 billion. During the same period last year, the firm earned $1.25 earnings per share. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on shares of Medtronic from $85.00 to $87.00 and gave the stock a "hold" rating in a research report on Wednesday, August 21st. Oppenheimer raised their price objective on Medtronic from $92.00 to $94.00 and gave the company a "market perform" rating in a report on Wednesday, August 21st. Sanford C. Bernstein increased their target price on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research report on Wednesday, November 20th. Daiwa America raised shares of Medtronic to a "strong-buy" rating in a report on Friday, August 23rd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $95.27.

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.