Meridian Investment Counsel Inc. raised its holdings in Medtronic plc (NYSE:MDT - Free Report) by 169.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,637 shares of the medical technology company's stock after purchasing an additional 7,948 shares during the quarter. Meridian Investment Counsel Inc.'s holdings in Medtronic were worth $1,138,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Capital Research Global Investors boosted its holdings in shares of Medtronic by 7.1% in the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company's stock valued at $2,691,577,000 after purchasing an additional 2,044,109 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Medtronic by 8.3% in the 2nd quarter. Pzena Investment Management LLC now owns 8,307,123 shares of the medical technology company's stock valued at $653,854,000 after purchasing an additional 637,931 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Medtronic by 7.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company's stock valued at $560,494,000 after acquiring an additional 515,751 shares in the last quarter. Longview Partners Guernsey LTD boosted its holdings in shares of Medtronic by 2.3% during the 1st quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company's stock valued at $578,245,000 after acquiring an additional 147,737 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of Medtronic by 2.3% during the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company's stock valued at $575,460,000 after acquiring an additional 145,504 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.
Analyst Upgrades and Downgrades
MDT has been the topic of several recent research reports. Royal Bank of Canada raised Medtronic from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Stifel Nicolaus raised their price objective on Medtronic from $85.00 to $87.00 and gave the company a "hold" rating in a report on Wednesday, August 21st. Evercore ISI raised their price objective on Medtronic from $100.00 to $104.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st. Barclays raised their price objective on Medtronic from $104.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Finally, Robert W. Baird raised their price objective on Medtronic from $90.00 to $96.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $95.80.
Get Our Latest Stock Analysis on MDT
Medtronic Trading Up 1.8 %
Shares of MDT stock traded up $1.53 during mid-day trading on Friday, hitting $87.53. The company's stock had a trading volume of 7,952,317 shares, compared to its average volume of 6,225,400. The company's fifty day simple moving average is $89.48 and its 200-day simple moving average is $84.71. Medtronic plc has a 52 week low of $74.20 and a 52 week high of $92.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The company has a market cap of $112.25 billion, a PE ratio of 29.57, a P/E/G ratio of 2.51 and a beta of 0.84.
Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. During the same period last year, the company posted $1.20 EPS. The business's quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts expect that Medtronic plc will post 5.44 earnings per share for the current fiscal year.
About Medtronic
(Free Report)
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.
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