Pzena Investment Management LLC Has $772.73 Million Stake in Medtronic plc (NYSE:MDT)

Pzena Investment Management LLC boosted its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,582,993 shares of the medical technology company's stock after buying an additional 275,870 shares during the period. Medtronic makes up 2.5% of Pzena Investment Management LLC's holdings, making the stock its 18th largest position. Pzena Investment Management LLC owned approximately 0.67% of Medtronic worth $772,727,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Clearbridge Investments LLC boosted its position in Medtronic by 2.8% during the first quarter. Clearbridge Investments LLC now owns 595,995 shares of the medical technology company's stock worth $51,941,000 after purchasing an additional 16,105 shares in the last quarter. Lake Street Advisors Group LLC acquired a new position in shares of Medtronic during the first quarter valued at approximately $498,000. National Bank of Canada FI raised its holdings in shares of Medtronic by 13.6% during the first quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company's stock valued at $21,642,000 after acquiring an additional 31,195 shares during the last quarter. InterOcean Capital Group LLC raised its holdings in shares of Medtronic by 4.4% during the first quarter. InterOcean Capital Group LLC now owns 4,885 shares of the medical technology company's stock valued at $426,000 after acquiring an additional 207 shares during the last quarter. Finally, MQS Management LLC acquired a new position in shares of Medtronic during the first quarter valued at approximately $503,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Down 1.0 %

NYSE:MDT traded down $0.89 on Wednesday, reaching $84.11. The stock had a trading volume of 7,278,674 shares, compared to its average volume of 6,274,537. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average of $89.17 and a 200 day moving average of $84.84. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The stock has a market cap of $107.87 billion, a P/E ratio of 25.72, a price-to-earnings-growth ratio of 2.50 and a beta of 0.84.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the company earned $1.25 earnings per share. On average, research analysts predict that Medtronic plc will post 5.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Sanford C. Bernstein increased their target price on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a report on Wednesday. Piper Sandler raised their price target on Medtronic from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 21st. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Monday. Evercore ISI lifted their target price on Medtronic from $100.00 to $104.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st. Finally, Oppenheimer lifted their target price on Medtronic from $92.00 to $94.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Medtronic currently has an average rating of "Hold" and a consensus price target of $95.19.

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.