Medtronic plc (NYSE:MDT) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP trimmed its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 58.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 563,433 shares of the medical technology company's stock after selling 791,986 shares during the period. Two Sigma Investments LP's holdings in Medtronic were worth $45,007,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MDT. MONECO Advisors LLC grew its stake in shares of Medtronic by 1.8% during the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock worth $512,000 after purchasing an additional 115 shares during the period. OLD Second National Bank of Aurora raised its holdings in Medtronic by 0.3% in the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock worth $2,900,000 after purchasing an additional 121 shares during the period. McKinley Carter Wealth Services Inc. raised its holdings in Medtronic by 0.7% in the 4th quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock worth $1,572,000 after purchasing an additional 129 shares during the period. Faithward Advisors LLC increased its position in shares of Medtronic by 2.7% in the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock valued at $403,000 after buying an additional 134 shares in the last quarter. Finally, Vestor Capital LLC increased its position in shares of Medtronic by 0.3% in the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock valued at $4,104,000 after buying an additional 138 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MDT shares. Truist Financial cut their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Wall Street Zen downgraded shares of Medtronic from a "buy" rating to a "hold" rating in a research report on Saturday. Mizuho decreased their price target on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research note on Thursday. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, UBS Group raised their target price on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $96.07.

Medtronic Trading Down 0.3%

MDT traded down $0.21 on Friday, hitting $80.70. The company had a trading volume of 10,565,983 shares, compared to its average volume of 6,811,780. The company's fifty day moving average price is $85.06 and its 200 day moving average price is $86.41. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The firm has a market cap of $103.51 billion, a P/E ratio of 24.53, a PEG ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. The company had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm's quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.46 EPS. As a group, equities analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.71 per share. This is a positive change from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.84 annualized dividend and a yield of 3.52%. Medtronic's payout ratio is 85.11%.

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.