Sigma Planning Corp Trims Position in Medtronic PLC $MDT

Sigma Planning Corp decreased its stake in shares of Medtronic PLC (NYSE:MDT) by 14.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,376 shares of the medical technology company’s stock after selling 6,044 shares during the period. Sigma Planning Corp’s holdings in Medtronic were worth $2,847,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Medtronic by 0.7% during the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock valued at $8,919,846,000 after purchasing an additional 838,220 shares in the last quarter. State Street Corp boosted its holdings in Medtronic by 2.0% in the fourth quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock worth $5,966,780,000 after purchasing an additional 1,199,621 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Medtronic by 2.7% in the 4th quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock worth $5,150,420,000 after buying an additional 1,419,730 shares during the last quarter. Capital Research Global Investors increased its position in Medtronic by 12.6% during the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after acquiring an additional 3,880,174 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Medtronic by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock worth $2,665,832,000 after purchasing an additional 231,919 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

Medtronic Price Performance

NYSE MDT opened at $90.82 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The stock has a market cap of $116.25 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 2.45 and a beta of 0.55. The company’s 50 day moving average is $85.81 and its two-hundred day moving average is $85.48.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The firm had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same period in the prior year, the company posted $1.62 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, research analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic’s dividend payout ratio (DPR) is 77.21%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Needham & Company LLC upped their price target on shares of Medtronic from $101.00 to $114.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Weiss Ratings restated a “hold (c)” rating on shares of Medtronic in a research report on Tuesday, August 18th. Truist Financial reduced their target price on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a report on Thursday, June 4th. Rothschild & Co Redburn decreased their price target on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Finally, Robert W. Baird dropped their price target on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.79.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).