Medtronic plc (NYSE:MDT) Stock Position Raised by Vinva Investment Management Ltd

Vinva Investment Management Ltd increased its position in Medtronic plc (NYSE:MDT - Free Report) by 11.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,203 shares of the medical technology company's stock after buying an additional 6,757 shares during the period. Vinva Investment Management Ltd's holdings in Medtronic were worth $5,913,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Pzena Investment Management LLC grew its holdings in Medtronic by 3.3% in the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company's stock valued at $772,727,000 after purchasing an additional 275,870 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 purchasing an additional 5,975,110 shares during the period. Dimensional Fund Advisors LP grew its holdings in 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 purchasing an additional 515,751 shares during the period. Raymond James & Associates grew its holdings in Medtronic by 2.3% in the third 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 during the period. Finally, Fisher Asset Management LLC grew its holdings in Medtronic by 11.5% in the third 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 period. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Performance

MDT traded up $0.59 during trading hours on Thursday, hitting $86.27. The company's stock had a trading volume of 5,106,486 shares, compared to its average volume of 6,284,553. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week 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 firm has a market capitalization of $110.64 billion, a PE ratio of 26.38, a PEG ratio of 2.43 and a beta of 0.84. The company has a 50-day simple moving average of $88.75 and a 200 day simple moving average of $84.97.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm's revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. As a group, sell-side analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Daiwa America upgraded shares of Medtronic to a "strong-buy" rating in a report on Friday, August 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research report on Friday, November 15th. Oppenheimer upped their price target on shares of Medtronic from $92.00 to $94.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 21st. Citigroup increased their price target on Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 1st. Finally, Evercore ISI boosted their price objective on Medtronic from $100.00 to $104.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have assigned 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 presently has an average rating of "Hold" and an average price target of $95.27.

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.