Medtronic plc (NYSE:MDT) Holdings Raised by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P increased its stake in shares of Medtronic plc (NYSE:MDT) by 6.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,182 shares of the medical technology company’s stock after buying an additional 141 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Medtronic were worth $196,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. DRW Securities LLC grew its stake in Medtronic by 31.7% during the 3rd quarter. DRW Securities LLC now owns 6,288 shares of the medical technology company’s stock worth $566,000 after buying an additional 1,512 shares during the last quarter. Independent Advisor Alliance grew its stake in Medtronic by 43.5% during the 3rd quarter. Independent Advisor Alliance now owns 43,832 shares of the medical technology company’s stock worth $3,946,000 after buying an additional 13,289 shares during the last quarter. Fisher Asset Management LLC grew its stake 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 during the last quarter. Daiwa Securities Group Inc. grew its stake in Medtronic by 5.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 160,710 shares of the medical technology company’s stock worth $14,469,000 after buying an additional 8,682 shares during the last quarter. Finally, Marco Investment Management LLC grew its stake in Medtronic by 0.5% during the 3rd quarter. Marco Investment Management LLC now owns 98,241 shares of the medical technology company’s stock worth $8,845,000 after buying an additional 510 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup upped their price objective on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Wells Fargo & Company decreased their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Daiwa America raised Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. One investment 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $95.27.

Medtronic Trading Up 0.7 %

Shares of Medtronic stock opened at $86.27 on Friday. 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 firm has a market cap of $110.64 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 2.43 and a beta of 0.84. The business has a fifty day simple moving average of $88.75 and a 200-day simple moving average of $84.97. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68.

Medtronic (NYSE:MDT) last announced 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. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the prior year, the business posted $1.25 earnings per share. Medtronic’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal 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.