Two Sigma Advisers LP Has $85.20 Million Holdings in Medtronic plc. (MDT)
Two Sigma Advisers LP decreased its position in shares of Medtronic plc. (NYSE:MDT) by 11.4% in the 4th quarter, Holdings Channel reports. The firm owned 1,055,102 shares of the medical technology company’s stock after selling 135,176 shares during the quarter. Two Sigma Advisers LP’s holdings in Medtronic were worth $85,199,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Moors & Cabot Inc. grew its position in Medtronic by 0.4% in the 2nd quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock valued at $3,842,000 after purchasing an additional 178 shares during the period. Prudential Financial Inc. raised its stake in shares of Medtronic by 1.6% during the 3rd quarter. Prudential Financial Inc. now owns 3,308,500 shares of the medical technology company’s stock worth $257,302,000 after purchasing an additional 53,474 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Medtronic by 10.7% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 475,699 shares of the medical technology company’s stock worth $36,995,000 after purchasing an additional 45,826 shares during the period. Koch Industries Inc. raised its stake in shares of Medtronic by 27,564.6% during the 2nd quarter. Koch Industries Inc. now owns 1,403,151 shares of the medical technology company’s stock worth $1,388,000 after purchasing an additional 1,398,079 shares during the period. Finally, Sun Life Financial INC raised its stake in shares of Medtronic by 42,678.3% during the 2nd quarter. Sun Life Financial INC now owns 25,667 shares of the medical technology company’s stock worth $2,282,000 after purchasing an additional 25,607 shares during the period. Hedge funds and other institutional investors own 80.79% of the company’s stock.
A number of equities research analysts have recently commented on the company. Oppenheimer set a $94.00 target price on Medtronic and gave the stock a “buy” rating in a research note on Friday, January 19th. Morgan Stanley lifted their target price on Medtronic from $91.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Monday, February 5th. Stifel Nicolaus lifted their target price on Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, November 22nd. Zacks Investment Research upgraded Medtronic from a “sell” rating to a “hold” rating in a research note on Thursday, November 23rd. Finally, Jefferies Group reiterated a “buy” rating and set a $99.00 target price on shares of Medtronic in a research note on Thursday, November 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $91.50.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.01. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. The firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.20 billion. During the same period in the prior year, the business posted $1.12 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. sell-side analysts predict that Medtronic plc. will post 4.75 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 23rd will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, March 22nd. Medtronic’s dividend payout ratio is presently 90.64%.
In other news, SVP Carol A. Surface sold 24,479 shares of the business’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $78.18, for a total transaction of $1,913,768.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $82.82, for a total value of $1,325,120.00. Following the completion of the sale, the executive vice president now directly owns 88,818 shares of the company’s stock, valued at approximately $7,355,906.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,163 shares of company stock worth $12,232,045. Company insiders own 0.31% of the company’s stock.
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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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