Ingalls & Snyder LLC Buys 6,989 Shares of Medtronic plc (NYSE:MDT)

Ingalls & Snyder LLC increased its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 31.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,198 shares of the medical technology company's stock after acquiring an additional 6,989 shares during the quarter. Ingalls & Snyder LLC's holdings in Medtronic were worth $2,629,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 buying an additional 5,975,110 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Medtronic by 65.0% during the 3rd quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company's stock worth $406,122,000 after acquiring an additional 1,790,483 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Medtronic by 1,195.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company's stock valued at $144,637,000 after acquiring an additional 1,695,800 shares in the last quarter. Janus Henderson Group PLC increased its stake in Medtronic by 58.4% in the third quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company's stock valued at $346,705,000 after acquiring an additional 1,420,263 shares during the period. Finally, International Assets Investment Management LLC raised its position in Medtronic by 8,908.6% in the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company's stock worth $116,896,000 after purchasing an additional 1,284,002 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MDT shares. Daiwa America raised Medtronic to a "strong-buy" rating in a report on Friday, August 23rd. Evercore ISI upped their price target on Medtronic from $100.00 to $104.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. 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 report on Thursday, October 10th. Barclays upped their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. Finally, Oppenheimer lifted their price target 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Medtronic presently has an average rating of "Hold" and an average price target of $95.27.

Medtronic Trading Down 1.0 %

Shares of NYSE MDT traded down $0.83 during midday trading on Tuesday, hitting $85.71. The stock had a trading volume of 4,979,053 shares, compared to its average volume of 6,270,512. The firm has a market cap of $109.91 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 2.45 and a beta of 0.82. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. 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's 50-day simple moving average is $88.54 and its 200 day simple moving average is $85.00.

Medtronic (NYSE:MDT - Get Free Report) last announced 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 return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the company earned $1.25 earnings per share. The company's revenue was up 5.2% on a year-over-year basis. Research 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.