Kestra Investment Management LLC Acquires Shares of 5,959 Medtronic plc (NYSE:MDT)

Kestra Investment Management LLC bought a new position in Medtronic plc (NYSE:MDT - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 5,959 shares of the medical technology company's stock, valued at approximately $536,000.

Several other large investors have also recently bought and sold shares of MDT. Pzena Investment Management LLC grew 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 buying an additional 275,870 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Medtronic by 436.7% during the 3rd 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 valued at $661,125,000 after buying an additional 5,975,110 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Medtronic by 7.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company's stock worth $560,494,000 after acquiring an additional 515,751 shares during the last quarter. Raymond James & Associates grew its position in Medtronic by 2.3% in the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company's stock worth $575,460,000 after acquiring an additional 145,504 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in 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 acquiring an additional 609,391 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 0.1 %

Shares of MDT traded down $0.10 during mid-day trading on Monday, hitting $86.44. 1,751,765 shares of the company's stock traded hands, compared to its average volume of 6,252,890. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $110.84 billion, a P/E ratio of 26.39, a PEG ratio of 2.45 and a beta of 0.84. The business's 50-day moving average price is $88.69 and its 200-day moving average price is $85.00. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate 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 net margin of 13.00% and a return on equity of 13.79%. The company's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.25 EPS. As a group, sell-side analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MDT has been the subject of several research analyst reports. Barclays lifted their price target on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. UBS Group upgraded shares of Medtronic from a "sell" rating to a "neutral" rating and increased their price target for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Stifel Nicolaus lifted their price target on shares of Medtronic from $85.00 to $87.00 and gave the stock a "hold" rating in a research note on Wednesday, August 21st. Sanford C. Bernstein upped their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. Finally, Truist Financial lifted their target price on shares of Medtronic from $90.00 to $93.00 and gave the stock a "hold" rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $95.27.

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.