Aigen Investment Management LP Takes $586,000 Position in Medtronic plc (NYSE:MDT)

Aigen Investment Management LP purchased a new position in Medtronic plc (NYSE:MDT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,508 shares of the medical technology company’s stock, valued at approximately $586,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in shares of Medtronic in the 3rd quarter worth about $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic during the third quarter worth about $27,000. Lynx Investment Advisory purchased a new stake in Medtronic in the second quarter worth about $28,000. Gleason Group Inc. bought a new position in shares of Medtronic during the second quarter valued at approximately $42,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Medtronic during the second quarter valued at approximately $43,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of MDT opened at $87.98 on Thursday. The firm has a fifty day simple moving average of $89.65 and a two-hundred day simple moving average of $84.63. The firm has a market cap of $112.83 billion, a PE ratio of 29.72, a P/E/G ratio of 2.52 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. Medtronic plc has a 1-year low of $72.08 and a 1-year high of $92.68.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. Medtronic’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts anticipate that Medtronic plc will post 5.44 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on MDT. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Truist Financial raised their price target on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a report on Monday, October 14th. Piper Sandler upped their price target on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Citigroup raised their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Finally, Oppenheimer upped their target price on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $95.36.

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.