Medtronic plc (NYSE:MDT) Shares Sold by Thematics Asset Management

Thematics Asset Management lessened its holdings in Medtronic plc (NYSE:MDT) by 7.6% in the third quarter, HoldingsChannel.com reports. The firm owned 327,436 shares of the medical technology company’s stock after selling 26,981 shares during the period. Medtronic accounts for approximately 1.2% of Thematics Asset Management’s investment portfolio, making the stock its 25th biggest holding. Thematics Asset Management’s holdings in Medtronic were worth $29,479,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new position in Medtronic in the third quarter worth about $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic in the third quarter valued at approximately $27,000. Lynx Investment Advisory bought a new position in shares of Medtronic during the second quarter valued at approximately $28,000. Finally, J. Stern & Co. LLP bought a new position in shares of Medtronic during the third quarter valued at approximately $30,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.1 %

Shares of Medtronic stock traded down $0.11 during midday trading on Tuesday, hitting $85.64. The company’s stock had a trading volume of 862,436 shares, compared to its average volume of 6,267,149. The firm has a market capitalization of $109.83 billion, a P/E ratio of 26.22, a PEG ratio of 2.44 and a beta of 0.84. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68. 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 stock has a 50-day simple moving average of $88.91 and a 200-day simple moving average of $84.93.

Medtronic (NYSE:MDT) last released 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. The company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 EPS. As a group, sell-side analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Analysts Set New Price Targets

MDT has been the topic of several recent research reports. Barclays raised their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Evercore ISI upped their target price on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Piper Sandler raised their price target on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. One research 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, the company has an average rating of “Hold” and a consensus target price of $95.27.

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.