Alpha DNA Investment Management LLC decreased its holdings in Medtronic plc (NYSE:MDT - Free Report) by 42.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,781 shares of the medical technology company's stock after selling 9,504 shares during the quarter. Alpha DNA Investment Management LLC's holdings in Medtronic were worth $1,151,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in MDT. Pzena Investment Management LLC boosted its stake in shares of Medtronic by 3.3% in 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 buying an additional 275,870 shares during the last quarter. Dimensional Fund Advisors LP grew 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 during the period. Raymond James & Associates increased its position 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 worth $575,460,000 after buying an additional 145,504 shares in the last quarter. 1832 Asset Management L.P. raised its stake 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 worth $386,908,000 after buying an additional 1,041,863 shares during the period. Finally, Bank of Montreal Can raised its stake in 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 acquiring an additional 22,240 shares during the period. 82.06% of the stock is currently owned by institutional investors.
Shares of NYSE:MDT opened at $86.21 on Friday. The firm has a fifty day simple moving average of $88.99 and a two-hundred day simple moving average of $84.89. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The company has a quick ratio of 1.61, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $110.56 billion, a P/E ratio of 26.36, a PEG ratio of 2.40 and a beta of 0.84.
Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the business posted $1.25 earnings per share. The firm's revenue was up 5.2% on a year-over-year basis. On average, analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.
A number of analysts have recently issued reports on MDT shares. Daiwa America raised shares of Medtronic to a "strong-buy" rating in a research note 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. Citigroup increased their target price on Medtronic from $85.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 1st. Royal Bank of Canada upgraded Medtronic from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, Barclays lifted their price objective on shares of Medtronic from $104.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $95.00.
Check Out Our Latest Report on MDT
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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