Medtronic plc (NYSE:MDT) Shares Sold by Investment Management Corp of Ontario

Investment Management Corp of Ontario trimmed its holdings in Medtronic plc (NYSE:MDT - Free Report) by 34.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 67,615 shares of the medical technology company's stock after selling 34,761 shares during the period. Investment Management Corp of Ontario's holdings in Medtronic were worth $6,087,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its stake in Medtronic by 58.4% in the 3rd 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 last quarter. HighTower Advisors LLC boosted its stake in shares of Medtronic by 9.3% during the 3rd quarter. HighTower Advisors LLC now owns 1,453,630 shares of the medical technology company's stock worth $131,040,000 after purchasing an additional 123,475 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Medtronic during the 3rd quarter worth about $45,268,000. Coastwise Capital Group LLC boosted its stake in shares of Medtronic by 20.4% during the 3rd quarter. Coastwise Capital Group LLC now owns 6,500 shares of the medical technology company's stock worth $585,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Concentric Capital Strategies LP acquired a new stake in shares of Medtronic during the 3rd quarter worth about $6,097,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Down 0.2 %

NYSE:MDT traded down $0.21 during trading hours on Wednesday, hitting $85.50. The stock had a trading volume of 2,520,552 shares, compared to its average volume of 6,252,554. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68. The business has a 50 day simple moving average of $88.54 and a two-hundred day simple moving average of $85.00. The company has a market cap of $109.64 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 2.45 and a beta of 0.82.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company 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 company earned $1.25 earnings per share. Medtronic's revenue for the quarter was up 5.2% on a year-over-year basis. Analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Analyst Ratings Changes

MDT has been the topic of several analyst reports. Wells Fargo & Company decreased their price target on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 20th. Daiwa America upgraded shares of Medtronic to a "strong-buy" rating in a report on Friday, August 23rd. UBS Group upgraded shares of Medtronic from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Piper Sandler increased their price objective on shares of Medtronic from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, August 21st. Finally, Oppenheimer increased their price objective on shares of Medtronic from $92.00 to $94.00 and gave the stock a "market perform" rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $95.27.

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.