Medtronic plc (NYSE:MDT) Shares Purchased by Lazard Freres Gestion S.A.S.

Lazard Freres Gestion S.A.S. raised its stake in Medtronic plc (NYSE:MDT) by 23.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,159,191 shares of the medical technology company’s stock after purchasing an additional 220,556 shares during the quarter. Medtronic comprises about 2.2% of Lazard Freres Gestion S.A.S.’s investment portfolio, making the stock its 16th biggest position. Lazard Freres Gestion S.A.S. owned 0.09% of Medtronic worth $104,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of MDT. Bank of Montreal Can boosted its holdings in Medtronic by 65.0% in the third quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock valued at $406,122,000 after purchasing an additional 1,790,483 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Medtronic by 1,195.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock worth $144,637,000 after purchasing an additional 1,695,800 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Medtronic by 8,908.6% in the 3rd 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 in the last quarter. Troy Asset Management Ltd purchased a new position in shares of Medtronic during the 2nd quarter valued at approximately $85,440,000. Finally, 1832 Asset Management L.P. grew its position in shares of Medtronic by 26.9% during the second quarter. 1832 Asset Management L.P. now owns 4,915,609 shares of the medical technology company’s stock worth $386,908,000 after buying an additional 1,041,863 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MDT. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Truist Financial upped their target price on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Stifel Nicolaus increased their price target on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Piper Sandler raised their price objective on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Finally, Oppenheimer lifted their target price on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have given 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, Medtronic presently has an average rating of “Hold” and an average target price of $95.27.

Medtronic Price Performance

Shares of NYSE MDT traded up $0.31 during mid-day trading on Tuesday, reaching $86.06. 119,967 shares of the company traded hands, compared to its average volume of 6,264,895. The firm has a market cap of $110.37 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 2.44 and a beta of 0.84. 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 plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The stock has a fifty day simple moving average of $88.91 and a 200-day simple moving average of $84.93.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. During the same quarter in the previous year, the business earned $1.25 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

About Medtronic

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.