Sigma Planning Corp Sells 3,382 Shares of Medtronic plc (NYSE:MDT)

Sigma Planning Corp decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 14.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,216 shares of the medical technology company’s stock after selling 3,382 shares during the period. Sigma Planning Corp’s holdings in Medtronic were worth $2,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of MDT. Nuveen Asset Management LLC grew its position in shares of Medtronic by 26.5% during the 1st quarter. Nuveen Asset Management LLC now owns 13,070,609 shares of the medical technology company’s stock valued at $1,544,031,000 after acquiring an additional 2,735,614 shares during the period. Sanders Capital LLC boosted its holdings in Medtronic by 26.2% in the 2nd quarter. Sanders Capital LLC now owns 10,326,216 shares of the medical technology company’s stock worth $1,411,131,000 after buying an additional 2,145,361 shares during the period. Prospera Financial Services Inc boosted its holdings in Medtronic by 3,039.6% in the 2nd quarter. Prospera Financial Services Inc now owns 1,872,220 shares of the medical technology company’s stock worth $5,914,000 after buying an additional 1,812,587 shares during the period. FMR LLC boosted its holdings in Medtronic by 39.9% in the 2nd quarter. FMR LLC now owns 4,982,395 shares of the medical technology company’s stock worth $618,464,000 after buying an additional 1,419,785 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Medtronic by 6.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,957,284 shares of the medical technology company’s stock worth $2,593,814,000 after buying an additional 1,417,008 shares during the period. 79.59% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE MDT opened at $122.57 on Thursday. The firm’s 50-day moving average price is $129.46 and its 200-day moving average price is $127.14. The company has a current ratio of 2.89, a quick ratio of 2.34 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $164.72 billion, a price-to-earnings ratio of 42.86, a P/E/G ratio of 2.62 and a beta of 0.80. Medtronic plc has a 12-month low of $98.94 and a 12-month high of $135.89.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Monday, August 23rd. The medical technology company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.09. Medtronic had a net margin of 12.29% and a return on equity of 13.85%. The company had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period in the prior year, the company posted $0.62 EPS. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. On average, equities analysts predict that Medtronic plc will post 5.7 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Friday, September 24th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, September 23rd.

Several research analysts recently weighed in on MDT shares. Truist Securities upped their target price on shares of Medtronic from $138.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, August 25th. Credit Suisse Group upped their target price on shares of Medtronic from $137.00 to $146.00 and gave the stock an “outperform” rating in a report on Wednesday, August 25th. Truist upped their target price on shares of Medtronic from $138.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, August 25th. UBS Group increased their price objective on shares of Medtronic from $145.00 to $149.00 and gave the company a “buy” rating in a report on Wednesday, August 25th. Finally, BTIG Research downgraded shares of Medtronic from a “buy” rating to a “neutral” rating in a report on Monday, August 9th. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Medtronic currently has a consensus rating of “Buy” and a consensus price target of $144.18.

In other Medtronic news, SVP Bradley E. Lerman sold 4,000 shares of the company’s stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $131.52, for a total value of $526,080.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Bradley E. Lerman sold 50,775 shares of the company’s stock in a transaction dated Tuesday, August 31st. The stock was sold at an average price of $134.17, for a total transaction of $6,812,481.75. The disclosure for this sale can be found here. Insiders sold a total of 143,922 shares of company stock worth $18,906,460 over the last three months. 0.47% of the stock is currently owned by corporate insiders.

Medtronic Company Profile

Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiac and Vascular Group; Minimally Invasive Technologies Group; Restorative Therapies Group; and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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