Medtronic plc (NYSE:MDT) Shares Sold by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC lessened its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 5.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,782,450 shares of the medical technology company's stock after selling 396,725 shares during the period. Medtronic accounts for about 2.0% of Hotchkis & Wiley Capital Management LLC's portfolio, making the stock its 10th largest position. Hotchkis & Wiley Capital Management LLC owned approximately 0.53% of Medtronic worth $610,624,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of MDT. Pzena Investment Management LLC boosted its position in 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 worth $772,727,000 after purchasing an additional 275,870 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Medtronic by 436.7% during the third 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 worth $661,125,000 after purchasing an additional 5,975,110 shares during the period. Dimensional Fund Advisors LP boosted its position in Medtronic by 7.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company's stock worth $560,494,000 after purchasing an additional 515,751 shares during the period. Raymond James & Associates boosted its position in Medtronic by 2.3% during the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company's stock worth $575,460,000 after purchasing an additional 145,504 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Medtronic by 11.5% during 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 period. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Piper Sandler increased their target price on shares of Medtronic from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. lowered their target price on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research note on Friday, November 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Monday, November 18th. Royal Bank of Canada raised Medtronic from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, Evercore ISI raised their price target 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 issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Medtronic has an average rating of "Hold" and an average target price of $95.27.

Medtronic Trading Down 1.0 %

Shares of MDT stock traded down $0.83 on Tuesday, hitting $85.71. 4,979,053 shares of the stock traded hands, compared to its average volume of 6,270,512. The firm's 50-day moving average price is $88.69 and its two-hundred day moving average price is $85.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The stock has a market capitalization of $109.91 billion, a PE ratio of 26.21, a PEG ratio of 2.45 and a beta of 0.82. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68.

Medtronic (NYSE:MDT - Get Free Report) last posted its 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. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $8.27 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. Medtronic's revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Company 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.