Medtronic plc (NYSE:MDT) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. cut its stake in shares of Medtronic plc (NYSE:MDT) by 8.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,009 shares of the medical technology company’s stock after selling 1,130 shares during the quarter. Freedom Investment Management Inc.’s holdings in Medtronic were worth $1,171,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MDT. Bank of Montreal Can grew its position in Medtronic by 65.0% during the third quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock worth $406,122,000 after buying an additional 1,790,483 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Medtronic by 1,195.9% in 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 acquiring an additional 1,695,800 shares during the period. International Assets Investment Management LLC grew its holdings 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 worth $116,896,000 after acquiring an additional 1,284,002 shares during the period. Troy Asset Management Ltd acquired a new position in Medtronic during the second quarter worth $85,440,000. Finally, 1832 Asset Management L.P. boosted its position in 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 purchasing an additional 1,041,863 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.7 %

Shares of NYSE:MDT opened at $86.29 on Thursday. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The stock’s 50-day moving average price is $88.81 and its two-hundred day moving average price is $84.96. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The firm has a market cap of $110.66 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.43 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $8.27 billion. During the same period last year, the company earned $1.25 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MDT shares. Robert W. Baird dropped their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Stifel Nicolaus raised their target price on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $98.00 to $105.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Finally, Evercore ISI increased their target price on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and a consensus price target 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.