West Family Investments Inc. Purchases Shares of 3,815 Medtronic plc (NYSE:MDT)

West Family Investments Inc. purchased a new stake in Medtronic plc (NYSE:MDT) during the third quarter, HoldingsChannel.com reports. The fund purchased 3,815 shares of the medical technology company’s stock, valued at approximately $343,000.

Other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors raised its holdings in shares of Medtronic by 7.1% in the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after purchasing an additional 2,044,109 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Medtronic by 1,195.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock valued at $144,637,000 after purchasing an additional 1,695,800 shares during the last quarter. International Assets Investment Management LLC raised 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 purchasing an additional 1,284,002 shares during the last quarter. Troy Asset Management Ltd acquired a new stake in shares of Medtronic in the second quarter valued at approximately $85,440,000. Finally, 1832 Asset Management L.P. raised its holdings in shares of Medtronic by 26.9% in the second quarter. 1832 Asset Management L.P. now owns 4,915,609 shares of the medical technology company’s stock valued at $386,908,000 after purchasing an additional 1,041,863 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 2.9 %

Shares of Medtronic stock opened at $85.01 on Wednesday. Medtronic plc has a 1 year low of $74.66 and a 1 year high of $92.68. The stock has a fifty day moving average price of $89.30 and a 200-day moving average price of $84.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The firm has a market cap of $109.02 billion, a PE ratio of 28.72, a P/E/G ratio of 2.50 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued its earnings results 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 13.68% and a net margin of 12.06%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the company earned $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 5.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MDT. Truist Financial boosted their target price on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Oppenheimer boosted their target price on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. JPMorgan Chase & Co. lowered their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Finally, Royal Bank of Canada upgraded shares of 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 report on Thursday, October 10th. One 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 issued a strong buy rating to the company. According to MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and a consensus price target of $95.80.

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.