Vinva Investment Management Ltd Has $5.91 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Vinva Investment Management Ltd increased its position in shares of Medtronic plc (NYSE:MDT) by 11.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,203 shares of the medical technology company’s stock after purchasing an additional 6,757 shares during the quarter. Vinva Investment Management Ltd’s holdings in Medtronic were worth $5,913,000 at the end of the most recent quarter.

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

Medtronic Trading Up 0.7 %

MDT opened at $86.29 on Thursday. The firm’s fifty day moving average is $88.81 and its two-hundred day moving average is $84.96. The firm has a market cap of $110.66 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.43 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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 business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the business posted $1.25 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Wall Street Analyst Weigh In

MDT has been the subject of a number of research analyst reports. Daiwa America raised Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Oppenheimer upped their target price on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. 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 report on Wednesday, August 21st. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Finally, Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. One investment 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.com, Medtronic currently has an average rating of “Hold” and an average target price of $95.27.

About Medtronic

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.