Medtronic plc (NYSE:MDT) Shares Bought by Qsemble Capital Management LP

Qsemble Capital Management LP boosted its position in Medtronic plc (NYSE:MDT) by 15.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,816 shares of the medical technology company’s stock after purchasing an additional 7,257 shares during the period. Medtronic makes up about 0.9% of Qsemble Capital Management LP’s portfolio, making the stock its 19th largest holding. Qsemble Capital Management LP’s holdings in Medtronic were worth $4,755,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC bought a new position in shares of Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic during the 3rd quarter valued at $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic in the third quarter worth $27,000. Lynx Investment Advisory acquired a new position in Medtronic during the second quarter valued at $28,000. Finally, Gleason Group Inc. purchased a new stake in Medtronic in the 2nd quarter worth about $42,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of NYSE:MDT traded down $0.71 during midday trading on Monday, hitting $85.50. The company’s stock had a trading volume of 787,538 shares, compared to its average volume of 6,249,083. The stock’s 50 day simple moving average is $88.99 and its 200 day simple moving average is $84.91. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The stock has a market capitalization of $109.65 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 2.44 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last issued its quarterly earnings results 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 during 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%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 earnings per share. As a group, research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Sanford C. Bernstein boosted their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Citigroup upped their target price on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Truist Financial boosted their price target on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Finally, UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and lifted their target price for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $95.00.

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.