Medtronic PLC (NYSE:MDT) was the recipient of a large growth in short interest in the month of September. As of September 29th, there was short interest totalling 11,531,235 shares, a growth of 28.7% from the September 15th total of 8,960,370 shares. Based on an average trading volume of 5,401,377 shares, the short-interest ratio is currently 2.1 days. Currently, 0.9% of the company’s stock are sold short.

In related news, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $81.63, for a total value of $11,461,423.41. Following the sale, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $78.03, for a total value of $1,248,480.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in MDT. Parkside Financial Bank & Trust grew its holdings in shares of Medtronic PLC by 22.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after buying an additional 210 shares during the last quarter. BDO Wealth Advisors LLC purchased a new stake in shares of Medtronic PLC during the second quarter valued at $103,000. Motco grew its holdings in shares of Medtronic PLC by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after buying an additional 99 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Medtronic PLC by 21.5% during the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after buying an additional 290 shares during the last quarter. Finally, Israel Discount Bank of New York purchased a new stake in shares of Medtronic PLC during the first quarter valued at $117,000. 80.60% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic PLC (NYSE MDT) opened at 78.00 on Wednesday. The company has a market capitalization of $105.66 billion, a PE ratio of 26.25 and a beta of 1.01. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The stock’s 50 day moving average price is $79.61 and its 200 day moving average price is $83.24.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. On average, equities analysts anticipate that Medtronic PLC will post $4.64 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.

Medtronic PLC announced that its Board of Directors has authorized a share repurchase plan on Friday, June 23rd that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical technology company to purchase up to 49% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Several analysts recently weighed in on MDT shares. Jefferies Group LLC restated a “buy” rating and issued a $103.00 price target on shares of Medtronic PLC in a research note on Thursday, August 3rd. Deutsche Bank AG set a $96.00 price target on Medtronic PLC and gave the stock a “buy” rating in a research note on Monday, July 31st. BidaskClub downgraded Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Medtronic PLC in a research note on Tuesday, July 18th. Finally, Cowen and Company set a $95.00 price target on Medtronic PLC and gave the stock a “buy” rating in a research note on Tuesday, August 22nd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $87.88.

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About Medtronic PLC

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

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