J. Stern & Co. LLP Acquires New Shares in Medtronic plc (NYSE:MDT)

J. Stern & Co. LLP bought a new position in shares of Medtronic plc (NYSE:MDT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 330 shares of the medical technology company’s stock, valued at approximately $30,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MDT. Pzena Investment Management LLC grew 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 purchasing an additional 275,870 shares during the period. Dimensional Fund Advisors LP lifted its position 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 buying an additional 515,751 shares during the last quarter. Raymond James & Associates boosted its stake in Medtronic by 2.3% during the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock worth $575,460,000 after buying an additional 145,504 shares during the period. Fisher Asset Management LLC increased its position in shares of Medtronic by 11.5% during 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 acquiring an additional 609,391 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of Medtronic by 26.9% during the second quarter. 1832 Asset Management L.P. now owns 4,915,609 shares of the medical technology company’s stock valued at $386,908,000 after acquiring an additional 1,041,863 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Down 0.4 %

Shares of MDT stock traded down $0.34 during trading hours on Tuesday, reaching $85.41. 330,276 shares of the stock were exchanged, compared to its average volume of 6,265,768. The business’s fifty day moving average is $88.91 and its two-hundred day moving average is $84.93. The firm has a market capitalization of $109.54 billion, a P/E ratio of 26.22, a P/E/G ratio of 2.44 and a beta of 0.84. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

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 analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 EPS. As a group, research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MDT shares. Citigroup upped their price objective on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Sanford C. Bernstein upped their price target on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Robert W. Baird dropped their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Barclays boosted their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $98.00 to $105.00 in a report on Thursday, October 10th. One research 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 stock. According to MarketBeat.com, Medtronic has an average rating of “Hold” and a consensus target price of $95.27.

Medtronic Company 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.