Medtronic plc (NYSE:MDT) Shares Bought by Sigma Planning Corp

Sigma Planning Corp boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 38.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,892 shares of the medical technology company’s stock after purchasing an additional 11,049 shares during the period. Sigma Planning Corp’s holdings in Medtronic were worth $3,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC acquired a new position in Medtronic during the third quarter valued at $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic in the third quarter valued at $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic in the third quarter valued at $27,000. Stephens Consulting LLC increased its holdings in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares in the last quarter. Finally, J. Stern & Co. LLP purchased a new position in Medtronic in the third quarter valued at $30,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

MDT opened at $89.95 on Friday. The firm has a market capitalization of $115.34 billion, a PE ratio of 27.34, a PEG ratio of 2.22 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The firm’s 50-day moving average price is $86.08 and its 200 day moving average price is $87.14. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, sell-side analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. Medtronic’s payout ratio is presently 85.11%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Truist Financial cut their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Wednesday. Finally, Barclays lifted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $95.00.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.