Thematics Asset Management Has $29.48 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Thematics Asset Management trimmed its position in Medtronic plc (NYSE:MDT - Free Report) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 327,436 shares of the medical technology company's stock after selling 26,981 shares during the quarter. Medtronic makes up approximately 1.2% of Thematics Asset Management's portfolio, making the stock its 25th biggest holding. Thematics Asset Management's holdings in Medtronic were worth $29,479,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Transamerica Financial Advisors Inc. lifted its position in Medtronic by 12.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 7,586 shares of the medical technology company's stock valued at $683,000 after buying an additional 815 shares during the period. Shum Financial Group Inc. bought a new stake in shares of Medtronic during the 3rd quarter valued at about $971,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic during the 3rd quarter valued at about $30,000. Lazard Freres Gestion S.A.S. grew its stake in shares of Medtronic by 23.5% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 1,159,191 shares of the medical technology company's stock valued at $104,361,000 after acquiring an additional 220,556 shares during the period. Finally, FMR LLC grew its stake in shares of Medtronic by 21.0% during the 3rd quarter. FMR LLC now owns 1,839,569 shares of the medical technology company's stock valued at $165,616,000 after acquiring an additional 319,256 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Royal Bank of Canada upgraded Medtronic from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Piper Sandler lifted their target price on Medtronic from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 21st. Sanford C. Bernstein raised their price target on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. Robert W. Baird cut their target price on Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 20th. Finally, Evercore ISI raised their price target on Medtronic from $100.00 to $104.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Medtronic currently has a consensus rating of "Hold" and a consensus target price of $95.27.

Medtronic Stock Down 0.1 %

Medtronic stock traded down $0.08 during midday trading on Tuesday, hitting $85.67. The stock had a trading volume of 5,698,750 shares, compared to its average volume of 6,287,747. The stock has a market cap of $109.87 billion, a P/E ratio of 26.20, a P/E/G ratio of 2.44 and a beta of 0.84. The business has a fifty day moving average price of $88.85 and a 200 day moving average price of $84.95. 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.

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, topping analysts' consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the company posted $1.25 EPS. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts predict 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.