5,800 Shares in Medtronic plc (NYSE:MDT) Purchased by PDT Partners LLC

PDT Partners LLC bought a new position in Medtronic plc (NYSE:MDT - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,800 shares of the medical technology company's stock, valued at approximately $522,000.

Several other hedge funds also recently made changes to their positions in the company. Fred Alger Management LLC lifted its holdings in Medtronic by 6.9% in the third quarter. Fred Alger Management LLC now owns 36,801 shares of the medical technology company's stock valued at $3,313,000 after acquiring an additional 2,390 shares during the period. Vinva Investment Management Ltd boosted its holdings in Medtronic by 11.4% during the third quarter. Vinva Investment Management Ltd now owns 66,203 shares of the medical technology company's stock worth $5,913,000 after buying an additional 6,757 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Medtronic by 436.7% during the third 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 worth $661,125,000 after buying an additional 5,975,110 shares during the period. Noesis Capital Mangement Corp increased its holdings in Medtronic by 2.5% in the third quarter. Noesis Capital Mangement Corp now owns 101,266 shares of the medical technology company's stock valued at $9,117,000 after buying an additional 2,482 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in shares of Medtronic by 244.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 175,914 shares of the medical technology company's stock valued at $15,838,000 after acquiring an additional 124,900 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MDT. Daiwa America raised Medtronic to a "strong-buy" rating in a research note on Friday, August 23rd. UBS Group raised shares of Medtronic from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Truist Financial raised their price target on Medtronic from $90.00 to $93.00 and gave the stock a "hold" rating in a research report on Monday, October 14th. Piper Sandler increased their price objective on Medtronic from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, August 21st. Finally, Barclays upped their target price on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $95.27.

Medtronic Stock Down 1.0 %

MDT stock traded down $0.83 during midday trading on Tuesday, hitting $85.71. 4,979,053 shares of the company's stock were exchanged, compared to its average volume of 6,270,512. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $109.91 billion, a price-to-earnings ratio of 26.21, a price-to-earnings-growth ratio of 2.45 and a beta of 0.82. The firm has a 50 day moving average price of $88.54 and a 200-day moving average price of $85.00.

Medtronic (NYSE:MDT - Get Free Report) last issued its 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 company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the firm earned $1.25 EPS. The business's revenue was up 5.2% on a year-over-year basis. On average, analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic 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.