Hartford Funds Management Co LLC Buys 305 Shares of Medtronic plc (NYSE:MDT)

Hartford Funds Management Co LLC boosted its stake in shares of Medtronic plc (NYSE:MDT) by 3.9% in the third quarter, Holdings Channel reports. The institutional investor owned 8,082 shares of the medical technology company’s stock after purchasing an additional 305 shares during the period. Hartford Funds Management Co LLC’s holdings in Medtronic were worth $728,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC bought a new stake in shares of Medtronic in the 3rd quarter worth $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic in the 3rd quarter worth $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the 3rd quarter worth $27,000. Lynx Investment Advisory bought a new stake in shares of Medtronic in the 2nd quarter worth $28,000. Finally, Gleason Group Inc. bought a new stake in shares of Medtronic in the 2nd quarter worth $42,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and raised their price target for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, Citigroup raised their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” 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 given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Price Performance

NYSE MDT opened at $86.21 on Friday. The company has a market capitalization of $110.56 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.40 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.84. The business’s fifty day moving average is $88.99 and its 200 day moving average is $84.89. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68.

Medtronic (NYSE:MDT) last announced its quarterly earnings data 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. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts predict that Medtronic plc will post 5.46 earnings per share for the current 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.