Sigma Planning Corp Has $3.89 Million Stake in Medtronic PLC (NYSE:MDT)

Sigma Planning Corp lifted its position in Medtronic PLC (NYSE:MDT - Free Report) by 8.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,296 shares of the medical technology company's stock after buying an additional 3,404 shares during the quarter. Sigma Planning Corp's holdings in Medtronic were worth $3,891,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MDT. TCTC Holdings LLC grew its holdings in shares of Medtronic by 3.4% in the fourth quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company's stock worth $3,173,000 after purchasing an additional 1,301 shares during the last quarter. Brighton Jones LLC lifted its position in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after buying an additional 37,265 shares during the period. Oxford Asset Management LLP boosted its stake in Medtronic by 70.1% in the 4th quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock worth $594,000 after purchasing an additional 3,068 shares in the last quarter. New Vernon Investment Management LLC increased its stake in Medtronic by 304.9% during the 4th quarter. New Vernon Investment Management LLC now owns 29,613 shares of the medical technology company's stock valued at $2,425,000 after purchasing an additional 22,300 shares in the last quarter. Finally, Insight Inv LLC increased its stake in Medtronic by 84.2% during the 1st quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock valued at $2,467,000 after purchasing an additional 12,550 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

MDT stock traded down $0.17 on Thursday, reaching $89.61. The company's stock had a trading volume of 6,951,657 shares, compared to its average volume of 7,044,458. The firm has a fifty day moving average of $86.16 and a two-hundred day moving average of $86.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The company has a market capitalization of $114.93 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 2.32 and a beta of 0.80. Medtronic PLC has a 52 week low of $77.94 and a 52 week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The company's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 EPS. As a group, analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.17%. This is a positive change from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, June 27th. Medtronic's dividend payout ratio (DPR) is currently 78.45%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MDT. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Friday, June 6th. William Blair raised Medtronic to a "hold" rating in a report on Friday, July 11th. BTIG Research restated a "neutral" rating on shares of Medtronic in a report on Friday, July 11th. Finally, Truist Financial reduced their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Eleven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $98.19.

About Medtronic

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.