Concentric Capital Strategies LP acquired a new position in Medtronic plc (NYSE:MDT - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 67,725 shares of the medical technology company's stock, valued at approximately $6,097,000.
Several other institutional investors have also recently made changes to their positions in the business. Pzena Investment Management LLC raised its position in shares of Medtronic by 3.3% during the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company's stock valued at $772,727,000 after buying an additional 275,870 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 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 acquiring an additional 5,975,110 shares during the last quarter. Dimensional Fund Advisors LP boosted 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 purchasing an additional 515,751 shares during the last quarter. Raymond James & Associates grew its position in shares of Medtronic by 2.3% during the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company's stock valued at $575,460,000 after purchasing an additional 145,504 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Medtronic by 11.5% in the third quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company's stock worth $530,612,000 after purchasing an additional 609,391 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.
Medtronic Price Performance
Shares of NYSE:MDT remained flat at $86.54 on Monday. The stock had a trading volume of 7,058,600 shares, compared to its average volume of 6,276,077. The stock's 50 day simple moving average is $88.69 and its 200 day simple moving average is $85.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company has a market capitalization of $110.97 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.45 and a beta of 0.84. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week 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 for the quarter, beating analysts' consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. Equities analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on MDT. Daiwa America raised Medtronic to a "strong-buy" rating in a research note on Friday, August 23rd. Oppenheimer raised their target price on shares of Medtronic from $92.00 to $94.00 and gave the company a "market perform" rating in a report on Wednesday, August 21st. Stifel Nicolaus upped their price target on shares of Medtronic from $85.00 to $87.00 and gave the company a "hold" rating in a research note on Wednesday, August 21st. Barclays lifted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. Finally, Evercore ISI upped their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Medtronic currently has an average rating of "Hold" and a consensus price target of $95.27.
Read Our Latest Report on MDT
Medtronic Company Profile
(
Free Report)
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.
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