Vinva Investment Management Ltd Has $5.91 Million Stake in Medtronic plc (NYSE:MDT)

Vinva Investment Management Ltd lifted its position in shares of Medtronic plc (NYSE:MDT) by 11.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Pzena Investment Management LLC boosted its position in 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 acquiring an additional 275,870 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 worth $661,125,000 after purchasing an additional 5,975,110 shares during the last quarter. Dimensional Fund Advisors LP grew 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 purchasing an additional 515,751 shares in the last quarter. Raymond James & Associates increased its stake in Medtronic by 2.3% in 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 buying an additional 145,504 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in Medtronic by 11.5% during the 3rd 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 in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 0.7 %

Medtronic stock opened at $86.29 on Thursday. The company’s 50-day moving average price is $88.81 and its two-hundred day moving average price is $84.96. 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 stock has a market cap of $110.66 billion, a P/E ratio of 26.39, a P/E/G ratio of 2.43 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68.

Medtronic (NYSE:MDT) 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 company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. As a group, analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MDT shares. Barclays lifted their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday. Citigroup boosted their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Truist Financial increased their price objective on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a report on Monday, October 14th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Sanford C. Bernstein increased their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Medtronic currently 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.