Public Sector Pension Investment Board Has $15.84 Million Stake in Medtronic plc (NYSE:MDT)

Public Sector Pension Investment Board grew its holdings in Medtronic plc (NYSE:MDT - Free Report) by 244.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,914 shares of the medical technology company's stock after buying an additional 124,900 shares during the period. Public Sector Pension Investment Board's holdings in Medtronic were worth $15,838,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clear Harbor Asset Management LLC boosted its position in Medtronic by 1.2% during the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company's stock worth $861,000 after purchasing an additional 111 shares during the period. First PREMIER Bank boosted its holdings in shares of Medtronic by 1.8% during the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company's stock worth $577,000 after buying an additional 116 shares during the period. First City Capital Management Inc. boosted its holdings in shares of Medtronic by 2.9% during the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company's stock worth $371,000 after buying an additional 116 shares during the period. Hardy Reed LLC grew its stake in Medtronic by 4.4% in the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company's stock valued at $247,000 after buying an additional 116 shares during the last quarter. Finally, Precision Wealth Strategies LLC raised its holdings in Medtronic by 3.3% in the 3rd quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company's stock valued at $337,000 after acquiring an additional 118 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MDT has been the topic of several research reports. Daiwa America raised Medtronic to a "strong-buy" rating in a research report on Friday, August 23rd. Robert W. Baird dropped their target price on Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a report on Wednesday, November 20th. Oppenheimer upped their price target on shares of Medtronic from $92.00 to $94.00 and gave the company a "market perform" rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. cut their price objective on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a report on Friday, November 15th. Finally, Wells Fargo & Company lowered their target price on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Medtronic has an average rating of "Hold" and an average target price of $95.27.

Medtronic Trading Up 0.3 %

Shares of MDT stock traded up $0.27 on Friday, hitting $86.54. The company had a trading volume of 3,543,192 shares, compared to its average volume of 6,272,690. The stock's 50-day moving average is $88.69 and its two-hundred day moving average is $84.99. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The firm has a market cap of $110.98 billion, a P/E ratio of 26.46, a P/E/G ratio of 2.44 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 EPS. On average, equities research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

About Medtronic

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.