Fisher Asset Management LLC Has $530.61 Million Stock Position in Medtronic plc (NYSE:MDT)

Fisher Asset Management LLC raised its holdings in Medtronic plc (NYSE:MDT) by 11.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,893,720 shares of the medical technology company’s stock after acquiring an additional 609,391 shares during the quarter. Fisher Asset Management LLC’s holdings in Medtronic were worth $530,612,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Pzena Investment Management LLC grew its holdings 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 purchasing an additional 275,870 shares during the period. Dimensional Fund Advisors LP grew its stake in Medtronic by 7.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock valued at $560,494,000 after acquiring an additional 515,751 shares during the period. Raymond James & Associates increased its holdings in shares of Medtronic by 2.3% during the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock valued at $575,460,000 after acquiring an additional 145,504 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of Medtronic by 26.9% during the second quarter. 1832 Asset Management L.P. now owns 4,915,609 shares of the medical technology company’s stock worth $386,908,000 after purchasing an additional 1,041,863 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Medtronic by 0.8% in the 2nd quarter. Bank of Montreal Can now owns 2,756,336 shares of the medical technology company’s stock worth $234,068,000 after purchasing an additional 22,240 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MDT has been the subject of a number of analyst reports. Citigroup lifted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Daiwa America upgraded Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. 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 note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Stock Up 1.7 %

MDT opened at $86.21 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The firm has a market capitalization of $110.56 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 2.44 and a beta of 0.84. The company has a fifty day moving average price of $88.99 and a 200-day moving average price of $84.91.

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 company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. Medtronic’s revenue was up 5.2% on a year-over-year basis. Equities research analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

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.