Fisher Asset Management LLC Has $530.61 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Fisher Asset Management LLC lifted its stake in Medtronic plc (NYSE:MDT) by 11.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,893,720 shares of the medical technology company’s stock after purchasing an additional 609,391 shares during the period. Fisher Asset Management LLC owned 0.46% of Medtronic worth $530,612,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Olstein Capital Management L.P. boosted its position in shares of Medtronic by 19.2% during the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after purchasing an additional 14,000 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Medtronic in the 2nd quarter valued at approximately $25,643,000. Ferguson Wellman Capital Management Inc. bought a new stake in Medtronic during the 3rd quarter worth approximately $9,486,000. Harvest Portfolios Group Inc. lifted its stake in Medtronic by 6.5% in the third quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock valued at $62,042,000 after buying an additional 42,112 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Medtronic by 6.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 368,682 shares of the medical technology company’s stock worth $29,019,000 after acquiring an additional 21,995 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Piper Sandler upped their target price 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. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Wells Fargo & Company lowered their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Citigroup lifted their price target 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, Sanford C. Bernstein raised their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. One 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. According to data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Price Performance

Shares of NYSE:MDT opened at $86.21 on Monday. The firm has a 50 day simple moving average of $88.99 and a 200 day simple moving average of $84.91. The company has a market cap of $110.56 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.44 and a beta of 0.84. 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 current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate 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%. Medtronic’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. Research 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.