10,536 Shares in Medtronic plc (NYSE:MDT) Bought by Stevens Capital Management LP

Stevens Capital Management LP acquired a new position in shares of Medtronic plc (NYSE:MDT - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,536 shares of the medical technology company's stock, valued at approximately $949,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pzena Investment Management LLC lifted its holdings in shares of Medtronic by 3.3% during the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company's stock worth $772,727,000 after acquiring an additional 275,870 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Medtronic by 436.7% in 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 valued at $661,125,000 after acquiring an additional 5,975,110 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Medtronic by 7.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company's stock valued at $560,494,000 after acquiring an additional 515,751 shares during the last quarter. Raymond James & Associates increased its holdings in Medtronic by 2.3% during the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company's stock valued at $575,460,000 after purchasing an additional 145,504 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in Medtronic by 11.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company's stock valued at $530,612,000 after purchasing an additional 609,391 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MDT. UBS Group upgraded Medtronic from a "sell" rating to a "neutral" rating and raised their target price for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Royal Bank of Canada upgraded shares of Medtronic from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Robert W. Baird lowered their price target on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a report on Wednesday, November 20th. Piper Sandler raised their price target on shares of Medtronic from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. lowered their price target 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned 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 a consensus rating of "Hold" and a consensus target price of $95.27.

Medtronic Stock Performance

MDT traded down $1.18 on Thursday, reaching $84.14. The company had a trading volume of 6,831,907 shares, compared to its average volume of 6,268,996. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The stock has a market cap of $107.89 billion, a P/E ratio of 25.92, a P/E/G ratio of 2.43 and a beta of 0.82. The company's fifty day moving average is $88.46 and its 200 day moving average is $85.01. 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 announced its quarterly earnings results 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. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the business earned $1.25 EPS. Medtronic's quarterly revenue was up 5.2% on a year-over-year basis. As a group, analysts predict that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.33%. Medtronic's dividend payout ratio (DPR) is currently 85.63%.

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.