Sigma Planning Corp Has $934,000 Holdings in Medtronic PLC (MDT)
Sigma Planning Corp reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 15.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,519 shares of the medical technology company’s stock after selling 1,872 shares during the period. Sigma Planning Corp’s holdings in Medtronic PLC were worth $934,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in MDT. Parkside Financial Bank & Trust lifted its holdings in shares of Medtronic PLC by 22.4% in the 2nd 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 period. Israel Discount Bank of New York purchased a new stake in shares of Medtronic PLC in the first quarter worth about $117,000. Birch Hill Investment Advisors LLC purchased a new stake in shares of Medtronic PLC in the first quarter worth about $120,000. Farmers National Bank purchased a new stake in shares of Medtronic PLC in the first quarter worth about $121,000. Finally, Norway Savings Bank boosted its stake in shares of Medtronic PLC by 2.7% in the second quarter. Norway Savings Bank now owns 1,427 shares of the medical technology company’s stock worth $127,000 after buying an additional 38 shares during the last quarter. 80.63% of the stock is currently owned by institutional investors.
Shares of Medtronic PLC (NYSE:MDT) opened at 78.11 on Wednesday. The firm has a 50-day moving average price of $80.57 and a 200-day moving average price of $83.40. The stock has a market cap of $105.81 billion, a P/E ratio of 26.29 and a beta of 1.01. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The company had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $1.03 EPS. On average, analysts anticipate that Medtronic PLC will post $4.77 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, September 28th. Medtronic PLC’s dividend payout ratio is presently 61.95%.
In other news, CEO Omar Ishrak sold 140,407 shares of Medtronic PLC stock in a transaction 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 completion of the sale, the chief executive officer now owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC stock in a transaction on Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.
Several research firms recently commented on MDT. BidaskClub raised Medtronic PLC from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. William Blair reiterated an “outperform” rating on shares of Medtronic PLC in a research report on Thursday, July 6th. Wells Fargo & Company reissued an “outperform” rating on shares of Medtronic PLC in a report on Wednesday, July 12th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Medtronic PLC in a report on Tuesday, July 18th. Finally, Deutsche Bank AG set a $96.00 price objective on Medtronic PLC and gave the company a “buy” rating in a report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. Medtronic PLC has an average rating of “Hold” and a consensus target price of $89.12.
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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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