Medtronic plc (NYSE:MDT) Shares Acquired by DRW Securities LLC

DRW Securities LLC grew its holdings in Medtronic plc (NYSE:MDT) by 31.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,288 shares of the medical technology company’s stock after acquiring an additional 1,512 shares during the quarter. DRW Securities LLC’s holdings in Medtronic were worth $566,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Medtronic by 1,195.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock worth $144,637,000 after buying an additional 1,695,800 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Medtronic by 8,908.6% in the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock valued at $116,896,000 after acquiring an additional 1,284,002 shares during the period. Troy Asset Management Ltd acquired a new stake in shares of Medtronic in the second quarter valued at approximately $85,440,000. 1832 Asset Management L.P. grew 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 acquiring an additional 1,041,863 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in shares of Medtronic by 785.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 839,845 shares of the medical technology company’s stock valued at $66,104,000 after acquiring an additional 744,952 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $85.67 on Wednesday. The company has a market capitalization of $109.87 billion, a PE ratio of 26.20, a P/E/G ratio of 2.44 and a beta of 0.84. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The company has a 50-day simple moving average of $88.85 and a 200-day simple 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 (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $1.25 earnings per share. Equities research analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Oppenheimer raised their price objective 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. Evercore ISI raised their price target on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Truist Financial lifted their target price on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Finally, Sanford C. Bernstein upped their price target on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.