Janus Henderson Group PLC grew its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 58.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,850,914 shares of the medical technology company's stock after buying an additional 1,420,263 shares during the period. Janus Henderson Group PLC owned approximately 0.30% of Medtronic worth $346,705,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Fortitude Family Office LLC purchased a new stake in shares of Medtronic during the 3rd quarter valued at $27,000. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic during the 3rd quarter valued at $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Medtronic during the 3rd quarter valued at $27,000. J. Stern & Co. LLP purchased a new stake in shares of Medtronic during the 3rd quarter valued at $30,000. Finally, Gleason Group Inc. bought a new position in shares of Medtronic during the 2nd quarter worth $42,000. 82.06% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Royal Bank of Canada upgraded Medtronic from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Wells Fargo & Company cut their price target on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, November 20th. Truist Financial raised their target price on Medtronic from $90.00 to $93.00 and gave the stock a "hold" rating in a research note on Monday, October 14th. Piper Sandler raised their target price on Medtronic from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 21st. Finally, Daiwa America upgraded Medtronic to a "strong-buy" rating in a research note on Friday, August 23rd. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $95.27.
Check Out Our Latest Stock Report on Medtronic
Medtronic Price Performance
NYSE MDT traded down $0.40 during trading on Wednesday, hitting $85.31. 5,351,882 shares of the stock traded hands, compared to its average volume of 6,266,587. 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 50-day simple moving average of $88.46 and a 200-day simple moving average of $85.01. The company has a market capitalization of $109.39 billion, a P/E ratio of 26.09, a price-to-earnings-growth ratio of 2.45 and a beta of 0.82. 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 released its quarterly earnings results 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. 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 in the previous year, the company posted $1.25 EPS. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, analysts predict that Medtronic plc will post 5.46 EPS for the current year.
Medtronic Profile
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Free Report)
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.
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