Aigen Investment Management LP Invests $586,000 in Medtronic plc (NYSE:MDT)

Aigen Investment Management LP bought a new position in Medtronic plc (NYSE:MDT) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 6,508 shares of the medical technology company’s stock, valued at approximately $586,000.

Several other institutional investors and hedge funds also recently bought and sold shares of MDT. Capital Research Global Investors raised its stake in shares of Medtronic by 7.1% in the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock worth $2,691,577,000 after buying an additional 2,044,109 shares during the period. Pzena Investment Management LLC raised its stake in Medtronic by 8.3% during the 2nd quarter. Pzena Investment Management LLC now owns 8,307,123 shares of the medical technology company’s stock worth $653,854,000 after acquiring an additional 637,931 shares during the period. Dimensional Fund Advisors LP lifted its holdings in 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 in the last quarter. Longview Partners Guernsey LTD lifted its holdings in Medtronic by 2.3% during the first quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company’s stock valued at $578,245,000 after purchasing an additional 147,737 shares in the last quarter. Finally, Raymond James & Associates boosted its position in shares of Medtronic by 2.3% in the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock worth $575,460,000 after purchasing an additional 145,504 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Price Performance

Medtronic stock opened at $87.98 on Thursday. Medtronic plc has a 52-week low of $72.08 and a 52-week high of $92.68. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The firm’s fifty day moving average is $89.65 and its 200 day moving average is $84.63. The company has a market cap of $112.83 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 2.52 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. During the same period in the previous year, the firm posted $1.20 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts forecast that Medtronic plc will post 5.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Stifel Nicolaus boosted their price objective on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Wells Fargo & Company increased their target price on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Oppenheimer boosted their price target on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $95.36.

Medtronic 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.