Dai ichi Life Insurance Company Ltd Has $4.06 Million Holdings in Medtronic plc (NYSE:MDT)

Dai ichi Life Insurance Company Ltd boosted its stake in Medtronic plc (NYSE:MDT) by 21.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,096 shares of the medical technology company’s stock after purchasing an additional 8,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Medtronic were worth $4,060,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its holdings in Medtronic by 29.1% in the third quarter. The Manufacturers Life Insurance Company now owns 3,252,181 shares of the medical technology company’s stock valued at $292,794,000 after purchasing an additional 732,753 shares during the period. Qsemble Capital Management LP increased its holdings in Medtronic by 15.9% in the third quarter. Qsemble Capital Management LP now owns 52,816 shares of the medical technology company’s stock valued at $4,755,000 after purchasing an additional 7,257 shares during the period. Bank of Montreal Can increased its holdings in Medtronic by 65.0% in the third quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock valued at $406,122,000 after purchasing an additional 1,790,483 shares during the period. Associated Banc Corp increased its holdings in Medtronic by 12.1% in the third quarter. Associated Banc Corp now owns 171,778 shares of the medical technology company’s stock valued at $15,465,000 after purchasing an additional 18,542 shares during the period. Finally, Truvestments Capital LLC increased its holdings in Medtronic by 20.5% in the third quarter. Truvestments Capital LLC now owns 31,527 shares of the medical technology company’s stock valued at $2,838,000 after purchasing an additional 5,364 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Piper Sandler increased their price target on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. 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 report on Wednesday, November 20th. 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 report on Friday, November 15th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Finally, Robert W. Baird decreased their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $95.27.

Medtronic Trading Down 0.1 %

Shares of MDT stock opened at $85.67 on Wednesday. The company has a 50 day moving average of $88.85 and a 200-day moving average of $84.95. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The firm has a market cap of $109.87 billion, a P/E ratio of 26.20, a PEG ratio of 2.43 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. 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 EPS. Medtronic’s quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts anticipate that Medtronic plc will post 5.46 earnings per share 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.