West Family Investments Inc. Buys New Position in Medtronic plc (NYSE:MDT)

West Family Investments Inc. bought a new stake in shares of Medtronic plc (NYSE:MDT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,815 shares of the medical technology company’s stock, valued at approximately $343,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Olstein Capital Management L.P. boosted its stake in Medtronic by 19.2% during the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after purchasing an additional 14,000 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Medtronic during the second quarter valued at approximately $25,643,000. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Medtronic in the third quarter valued at $9,486,000. National Bank of Canada FI lifted its position in Medtronic by 13.6% in the first quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company’s stock worth $21,642,000 after purchasing an additional 31,195 shares during the period. Finally, Harvest Portfolios Group Inc. boosted its stake in Medtronic by 6.5% during the third quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock worth $62,042,000 after buying an additional 42,112 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on MDT. Barclays increased their price target on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Evercore ISI boosted their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Truist Financial lifted 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 raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Robert W. Baird raised their price objective on shares of Medtronic from $90.00 to $96.00 in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average target price of $95.80.

Medtronic Stock Down 2.9 %

Shares of NYSE MDT opened at $85.01 on Wednesday. The firm has a market capitalization of $109.02 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 2.50 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. Medtronic plc has a 1 year low of $74.66 and a 1 year high of $92.68. The firm’s 50-day moving average is $89.30 and its 200-day moving average is $84.84.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the firm earned $1.25 EPS. Medtronic’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts expect that Medtronic plc will post 5.44 EPS for the current year.

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.