Medtronic plc (NYSE:MDT) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC lessened its stake in Medtronic plc (NYSE:MDT) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,998 shares of the medical technology company’s stock after selling 1,796 shares during the quarter. NFJ Investment Group LLC’s holdings in Medtronic were worth $24,308,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Pzena Investment Management LLC grew its holdings in shares of Medtronic by 3.3% during the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock worth $772,727,000 after buying an additional 275,870 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Medtronic by 436.7% during 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 buying an additional 5,975,110 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Medtronic by 7.8% during 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 raised its stake in shares of Medtronic by 2.3% during 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 increased its stake in shares of 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 worth $530,612,000 after buying an additional 609,391 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of a number of research analyst reports. Evercore ISI lifted their price target on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Piper Sandler boosted 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. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and boosted their price target for the company from $76.00 to $90.00 in a report on Thursday, August 15th. Oppenheimer boosted their price target on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. Finally, Sanford C. Bernstein boosted their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $95.27.

Medtronic Stock Down 1.1 %

Shares of MDT traded down $0.92 during trading hours on Tuesday, reaching $85.62. The company’s stock had a trading volume of 648,491 shares, compared to its average volume of 6,251,220. The firm has a market cap of $109.79 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 2.45 and a beta of 0.82. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $88.69 and a two-hundred day moving average of $85.00.

Medtronic (NYSE:MDT) last announced its quarterly 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 business had revenue of $8.40 billion during 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 quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 EPS. As a group, research analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal 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.