Medtronic plc (NYSE:MDT) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP grew its position in Medtronic plc (NYSE:MDT - Free Report) by 35.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,008 shares of the medical technology company's stock after buying an additional 47,687 shares during the quarter. Quantinno Capital Management LP's holdings in Medtronic were worth $16,386,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MDT. Quarry LP increased its stake in Medtronic by 322.0% during the 3rd quarter. Quarry LP now owns 6,343 shares of the medical technology company's stock worth $571,000 after buying an additional 4,840 shares during the period. Royal London Asset Management Ltd. increased its position in shares of Medtronic by 1.6% during the 3rd quarter. Royal London Asset Management Ltd. now owns 561,578 shares of the medical technology company's stock valued at $50,559,000 after purchasing an additional 8,907 shares during the period. Polar Asset Management Partners Inc. bought a new stake in shares of Medtronic during the 3rd quarter worth $20,599,000. Morse Asset Management Inc bought a new stake in shares of Medtronic during the 3rd quarter worth $225,000. Finally, IHT Wealth Management LLC boosted its position in shares of Medtronic by 34.2% in the third quarter. IHT Wealth Management LLC now owns 27,145 shares of the medical technology company's stock worth $2,444,000 after buying an additional 6,917 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the topic of several recent research reports. Citigroup raised their target price on Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 1st. Piper Sandler lifted their price objective on shares of Medtronic from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 21st. Sanford C. Bernstein upped their price objective on Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Monday, November 18th. Finally, UBS Group upgraded Medtronic from a "sell" rating to a "neutral" rating and boosted their price target for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. One equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of "Hold" and a consensus price target of $95.27.

Medtronic Price Performance

Shares of MDT stock traded down $0.82 during mid-day trading on Thursday, hitting $84.50. 3,737,529 shares of the stock were exchanged, compared to its average volume of 6,254,679. The firm has a fifty day moving average of $88.46 and a 200 day moving average of $85.01. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The company has a market cap of $108.35 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the firm earned $1.25 EPS. The business's revenue was up 5.2% compared to the same quarter last year. Research analysts anticipate that Medtronic plc will post 5.45 earnings per share 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.