Fisher Asset Management LLC Raises Position in Medtronic plc (NYSE:MDT)

Fisher Asset Management LLC raised its position in Medtronic plc (NYSE:MDT - Free Report) by 11.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,893,720 shares of the medical technology company's stock after purchasing an additional 609,391 shares during the quarter. Fisher Asset Management LLC owned 0.46% of Medtronic worth $530,612,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in Medtronic during the 3rd quarter valued at $27,000. Darwin Wealth Management LLC bought a new position in Medtronic during the 3rd quarter worth $27,000. Highline Wealth Partners LLC bought a new position in Medtronic during the 3rd quarter worth $27,000. Lynx Investment Advisory bought a new position in shares of Medtronic in the second quarter worth $28,000. Finally, Gleason Group Inc. bought a new position in shares of Medtronic in the second quarter worth $42,000. Institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wells Fargo & Company decreased their target price on Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 20th. Piper Sandler lifted their target price on Medtronic from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. cut their price objective on Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research note on Friday, November 15th. Sanford C. Bernstein boosted 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. Finally, Evercore ISI boosted their price objective on Medtronic from $100.00 to $104.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st. One research 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $95.00.

Medtronic Price Performance

Shares of MDT stock traded down $0.46 during mid-day trading on Monday, hitting $85.75. 10,627,761 shares of the stock were exchanged, compared to its average volume of 6,292,239. The firm has a fifty day moving average of $88.91 and a 200 day moving average of $84.93. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The company has a market cap of $109.97 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 2.44 and a beta of 0.84.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the company posted $1.25 EPS. The company's revenue for the quarter was up 5.2% on a year-over-year basis. Research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

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.