Medtronic plc (NYSE:MDT) Shares Bought by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. boosted its stake in shares of Medtronic plc (NYSE:MDT) by 6.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,686 shares of the medical technology company’s stock after acquiring an additional 5,518 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Medtronic were worth $8,075,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pzena Investment Management LLC grew its position in shares of 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 valued at $772,727,000 after acquiring an additional 275,870 shares during the period. Dimensional Fund Advisors LP boosted its position 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 worth $560,494,000 after purchasing an additional 515,751 shares in the last quarter. Raymond James & Associates grew its holdings in Medtronic by 2.3% in 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. 1832 Asset Management L.P. increased its position in shares of Medtronic by 26.9% in the second quarter. 1832 Asset Management L.P. now owns 4,915,609 shares of the medical technology company’s stock valued at $386,908,000 after buying an additional 1,041,863 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Medtronic by 0.8% during the 2nd quarter. Bank of Montreal Can now owns 2,756,336 shares of the medical technology company’s stock worth $234,068,000 after buying an additional 22,240 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MDT. Daiwa America raised Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Robert W. Baird cut their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Price Performance

Shares of MDT opened at $86.21 on Friday. The company has a market capitalization of $110.56 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 2.40 and a beta of 0.84. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The firm has a 50-day simple moving average of $88.99 and a 200-day simple moving average of $84.87. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the business posted $1.25 EPS. The company’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Company 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.