Holocene Advisors LP Buys New Holdings in Medtronic plc (NYSE:MDT)

Holocene Advisors LP bought a new position in Medtronic plc (NYSE:MDT - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 502,810 shares of the medical technology company's stock, valued at approximately $45,268,000.

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 third quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic in the third quarter worth about $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic in the third quarter worth about $27,000. Lynx Investment Advisory bought a new position in shares of Medtronic in the second quarter worth about $28,000. Finally, J. Stern & Co. LLP bought a new position in shares of Medtronic in the third quarter worth about $30,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

MDT has been the topic of several research reports. Stifel Nicolaus boosted their price target on Medtronic from $85.00 to $87.00 and gave the company a "hold" rating in a research note on Wednesday, August 21st. Evercore ISI boosted their target price on Medtronic from $100.00 to $104.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. Piper Sandler upped their price objective on Medtronic from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, August 21st. Citigroup upped their target price on shares of Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, October 1st. Finally, Truist Financial upped their target price on shares of Medtronic from $90.00 to $93.00 and gave the company a "hold" rating in a research report on Monday, October 14th. 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. Based on data from MarketBeat.com, Medtronic has an average rating of "Hold" and a consensus price target of $95.27.

Medtronic Stock Down 1.0 %

MDT stock traded down $0.87 during trading hours on Tuesday, reaching $85.67. 3,441,531 shares of the stock were exchanged, compared to its average volume of 6,261,384. The firm's 50-day moving average is $88.69 and its 200-day moving average is $85.00. The company has a market cap of $109.85 billion, a price-to-earnings ratio of 26.18, a PEG 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 12 month low of $75.96 and a 12 month high of $92.68.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data 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. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the prior year, the business posted $1.25 EPS. The company's quarterly revenue was up 5.2% on a year-over-year basis. On average, equities research analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

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.