Medtronic plc (NYSE:MDT) Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC boosted its position in Medtronic plc (NYSE:MDT) by 58.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,850,914 shares of the medical technology company’s stock after acquiring an additional 1,420,263 shares during the quarter. Janus Henderson Group PLC owned 0.30% of Medtronic worth $346,705,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in Medtronic during the third quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic during the third quarter worth approximately $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic during the third quarter worth approximately $27,000. J. Stern & Co. LLP acquired a new stake in Medtronic during the third quarter worth approximately $30,000. Finally, Gleason Group Inc. acquired a new stake in Medtronic during the second quarter worth approximately $42,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Citigroup raised their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Piper Sandler raised their target price on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Barclays raised their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. One equities 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $95.27.

Medtronic Price Performance

Medtronic stock opened at $85.71 on Wednesday. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The business has a fifty day moving average of $88.54 and a two-hundred day moving average of $85.00. The company has a market cap of $109.91 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 2.45 and a beta of 0.82.

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

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.