Fmr LLC Purchases 319,256 Shares of Medtronic plc (NYSE:MDT)

FMR LLC boosted its position in Medtronic plc (NYSE:MDT - Free Report) by 21.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,839,569 shares of the medical technology company's stock after buying an additional 319,256 shares during the quarter. FMR LLC owned approximately 0.14% of Medtronic worth $165,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Pzena Investment Management LLC grew its position in shares of Medtronic by 3.3% in 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 purchasing an additional 275,870 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Medtronic by 7.8% in the second 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 in the last quarter. Raymond James & Associates grew its position in shares of Medtronic by 2.3% in 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. Fisher Asset Management LLC grew its position 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 valued at $530,612,000 after purchasing an additional 609,391 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its position in shares of Medtronic by 26.9% in the second quarter. 1832 Asset Management L.P. now owns 4,915,609 shares of the medical technology company's stock valued at $386,908,000 after purchasing an additional 1,041,863 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays lifted their price target on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. dropped their price objective on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research note on Friday, November 15th. Truist Financial lifted their price objective on Medtronic from $90.00 to $93.00 and gave the company a "hold" rating in a research note on Monday, October 14th. Daiwa America raised Medtronic to a "strong-buy" rating in a research note on Friday, August 23rd. Finally, Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $95.27.

Medtronic Trading Down 0.5 %

MDT traded down $0.40 during midday trading on Wednesday, reaching $85.31. 5,351,882 shares of the company's stock traded hands, compared to its average volume of 6,266,587. The firm has a fifty day moving average of $88.46 and a two-hundred day moving average of $85.01. The stock has a market capitalization of $109.39 billion, a price-to-earnings ratio of 26.09, a P/E/G ratio of 2.45 and a beta of 0.82. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68.

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, beating analysts' consensus estimates of $1.25 by $0.01. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. Medtronic's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 EPS. On average, equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal 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.