330 Shares in Medtronic plc (NYSE:MDT) Acquired by J. Stern & Co. LLP

J. Stern & Co. LLP purchased a new stake in Medtronic plc (NYSE:MDT) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 330 shares of the medical technology company’s stock, valued at approximately $30,000.

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

Medtronic Stock Performance

NYSE MDT traded down $0.34 on Tuesday, hitting $85.41. 330,276 shares of the company’s stock were exchanged, compared to its average volume of 6,265,768. The firm has a market cap of $109.54 billion, a price-to-earnings ratio of 26.22, a P/E/G ratio of 2.44 and a beta of 0.84. The firm’s 50-day moving average price is $88.91 and its two-hundred day moving average price is $84.93. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. 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 (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. Medtronic’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 earnings per share. On average, research analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Truist Financial upped their target price on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. decreased their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and raised their target price for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Wells Fargo & Company reduced their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Finally, Barclays raised their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and an average target price of $95.27.

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.