Two Sigma Advisers LP cut its holdings in Medtronic plc. (NYSE:MDT) by 11.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,055,102 shares of the medical technology company’s stock after selling 135,176 shares during the period. Two Sigma Advisers LP owned approximately 0.08% of Medtronic worth $85,199,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in MDT. Arcus Capital Partners LLC grew its stake in Medtronic by 0.8% during the second quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock worth $288,000 after buying an additional 25 shares in the last quarter. Miles Capital Inc. grew its stake in Medtronic by 3.4% during the second quarter. Miles Capital Inc. now owns 2,581 shares of the medical technology company’s stock worth $229,000 after buying an additional 86 shares in the last quarter. Ropes Wealth Advisors LLC grew its stake in Medtronic by 1.3% during the second quarter. Ropes Wealth Advisors LLC now owns 6,655 shares of the medical technology company’s stock worth $591,000 after buying an additional 88 shares in the last quarter. Gofen & Glossberg LLC IL grew its stake in Medtronic by 1.5% during the second quarter. Gofen & Glossberg LLC IL now owns 6,957 shares of the medical technology company’s stock worth $617,000 after buying an additional 100 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its stake in Medtronic by 6.2% during the second quarter. Salem Investment Counselors Inc. now owns 2,114 shares of the medical technology company’s stock worth $188,000 after buying an additional 123 shares in the last quarter. Institutional investors and hedge funds own 80.79% of the company’s stock.
A number of equities research analysts have issued reports on MDT shares. SunTrust Banks set a $92.00 price objective on shares of Medtronic and gave the stock a “buy” rating in a research note on Sunday, November 19th. Evercore ISI started coverage on shares of Medtronic in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 price target on the stock. Citigroup restated a “buy” rating and issued a $93.00 price target (down from $100.00) on shares of Medtronic in a research note on Thursday, February 22nd. Oppenheimer restated a “buy” rating on shares of Medtronic in a research note on Thursday, December 21st. Finally, BMO Capital Markets raised their price target on shares of Medtronic to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $91.50.
Medtronic plc. (NYSE:MDT) opened at $83.47 on Wednesday. The stock has a market cap of $112,902.58, a P/E ratio of 41.12, a P/E/G ratio of 2.36 and a beta of 0.97. Medtronic plc. has a fifty-two week low of $76.51 and a fifty-two week high of $89.72. The company has a quick ratio of 2.09, a current ratio of 2.43 and a debt-to-equity ratio of 0.51.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.01. The business had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.20 billion. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business earned $1.12 EPS. equities analysts expect that Medtronic plc. will post 4.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 23rd will be issued a $0.46 dividend. The ex-dividend date is Thursday, March 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 2.20%. Medtronic’s dividend payout ratio (DPR) is presently 90.64%.
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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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