Two Sigma Securities LLC Has $2.07 Million Position in Medtronic PLC (MDT)
Two Sigma Securities LLC decreased its position in shares of Medtronic PLC (NYSE:MDT) by 27.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 25,650 shares of the medical technology company’s stock after selling 9,478 shares during the period. Two Sigma Securities LLC’s holdings in Medtronic PLC were worth $2,066,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in MDT. Smith Salley & Associates raised its stake in Medtronic PLC by 2.5% in the first quarter. Smith Salley & Associates now owns 5,853 shares of the medical technology company’s stock worth $472,000 after buying an additional 141 shares in the last quarter. Atria Investments LLC raised its stake in Medtronic PLC by 39.0% in the first quarter. Atria Investments LLC now owns 9,233 shares of the medical technology company’s stock worth $744,000 after buying an additional 2,591 shares in the last quarter. Intrust Bank NA raised its stake in Medtronic PLC by 2.6% in the first quarter. Intrust Bank NA now owns 10,688 shares of the medical technology company’s stock worth $861,000 after buying an additional 272 shares in the last quarter. High Pointe Capital Management LLC bought a new stake in Medtronic PLC during the first quarter worth $854,000. Finally, Shine Investment Advisory Services Inc. bought a new stake in Medtronic PLC during the first quarter worth $244,000. 83.36% of the stock is currently owned by hedge funds and other institutional investors.
Medtronic PLC (NYSE:MDT) traded down 0.50% on Thursday, reaching $83.53. 652,756 shares of the company’s stock were exchanged. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The firm has a 50 day moving average of $86.49 and a 200-day moving average of $82.81. The company has a market cap of $113.52 billion, a P/E ratio of 28.90 and a beta of 1.02.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.31 by $0.02. The business had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.86 billion. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.27 earnings per share. Equities analysts expect that Medtronic PLC will post $4.81 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were given a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This is a positive change from Medtronic PLC’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 2.19%. Medtronic PLC’s dividend payout ratio is currently 63.67%.
MDT has been the subject of a number of analyst reports. Deutsche Bank AG set a $96.00 target price on Medtronic PLC and gave the stock a “buy” rating in a report on Monday, July 31st. Morgan Stanley upped their target price on Medtronic PLC from $84.00 to $86.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 30th. Evercore ISI increased their price objective on Medtronic PLC from $88.00 to $88.50 and gave the company an “outperform” rating in a report on Wednesday, April 19th. BidaskClub lowered Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $95.00 price objective (up previously from $91.00) on shares of Medtronic PLC in a report on Thursday, May 25th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $89.84.
In other news, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard H. Anderson purchased 5,600 shares of the stock in a transaction dated Wednesday, June 21st. The stock was acquired at an average price of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the transaction, the director now directly owns 71,910 shares of the company’s stock, valued at $6,392,799. The disclosure for this purchase can be found here. 0.25% of the stock is owned by corporate insiders.
Medtronic PLC Company Profile
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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