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

Sigma Planning Corp raised its holdings in Medtronic plc (NYSE:MDT) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,843 shares of the medical technology company’s stock after purchasing an additional 124 shares during the period. Sigma Planning Corp’s holdings in Medtronic were worth $2,597,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in Medtronic in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic during the third quarter worth $27,000. Lynx Investment Advisory purchased a new position in Medtronic during the second quarter valued at $28,000. Gleason Group Inc. purchased a new stake in shares of Medtronic during the second quarter worth about $42,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Medtronic during the second quarter worth about $43,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.5 %

Shares of Medtronic stock opened at $87.72 on Monday. Medtronic plc has a fifty-two week low of $69.32 and a fifty-two week high of $92.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The firm has a market capitalization of $112.50 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 2.51 and a beta of 0.84. The stock has a 50 day moving average of $89.68 and a 200 day moving average of $84.48.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same period last year, the company earned $1.20 EPS. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, research analysts predict that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.19%. Medtronic’s dividend payout ratio is currently 94.59%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Robert W. Baird lifted their price objective on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Stifel Nicolaus boosted their price target on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Citigroup raised their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Wells Fargo & Company upped their target price on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Hold” and an average price target of $95.36.

Medtronic Company 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.