4,714 Shares in Medtronic plc (NYSE:MDT) Purchased by Alethea Capital Management LLC

Alethea Capital Management LLC bought a new stake in Medtronic plc (NYSE:MDT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,714 shares of the medical technology company’s stock, valued at approximately $424,000. Medtronic comprises 0.3% of Alethea Capital Management LLC’s investment portfolio, making the stock its 13th biggest position.

Several other hedge funds have also made changes to their positions in MDT. Pzena Investment Management LLC grew its position in Medtronic by 3.3% in the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock worth $772,727,000 after acquiring an additional 275,870 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Medtronic by 436.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock worth $661,125,000 after purchasing an additional 5,975,110 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Medtronic by 7.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock worth $560,494,000 after purchasing an additional 515,751 shares during the last quarter. Raymond James & Associates raised its holdings in Medtronic by 2.3% in the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock valued at $575,460,000 after buying an additional 145,504 shares during the period. Finally, Fisher Asset Management LLC lifted its position in Medtronic by 11.5% in the third quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company’s stock valued at $530,612,000 after buying an additional 609,391 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.3 %

Shares of NYSE:MDT opened at $86.54 on Friday. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The company’s 50 day moving average is $88.69 and its two-hundred day moving average is $85.00. The company has a market cap of $110.97 billion, a PE ratio of 26.46, a P/E/G ratio of 2.45 and a beta of 0.84. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last posted 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 firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MDT. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Truist Financial upped their price target on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Stifel Nicolaus boosted their price objective on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Finally, Oppenheimer raised their target price on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $95.27.

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.