BNP PARIBAS ASSET MANAGEMENT Holding S.A. Increases Position in Medtronic plc (NYSE:MDT)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 2.8% in the third quarter, HoldingsChannel.com reports. The fund owned 813,041 shares of the medical technology company’s stock after acquiring an additional 22,232 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Medtronic were worth $73,198,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC bought a new position in shares of Medtronic during the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC bought a new position in Medtronic during the third quarter valued at $27,000. Highline Wealth Partners LLC purchased a new stake in Medtronic in the third quarter worth $27,000. Lynx Investment Advisory bought a new stake in shares of Medtronic in the second quarter valued at $28,000. Finally, Gleason Group Inc. bought a new position in shares of Medtronic during the 2nd quarter worth $42,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

NYSE:MDT opened at $84.71 on Friday. The stock has a market cap of $108.63 billion, a P/E ratio of 25.90, a PEG ratio of 2.42 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $89.07 and its two-hundred day moving average price is $84.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the firm posted $1.25 earnings per share. Medtronic’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MDT. Piper Sandler boosted their price objective on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Barclays boosted their price target on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Evercore ISI raised their price objective on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Sanford C. Bernstein boosted their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Monday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic has an average rating of “Hold” and an average target price of $95.19.

Medtronic Company 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.