Two Sigma Advisers LP Has $144.42 Million Stock Position in Medtronic PLC (NYSE:MDT)

Two Sigma Advisers LP raised its holdings in Medtronic PLC (NYSE:MDT) by 393.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,574,920 shares of the medical technology company’s stock after buying an additional 1,255,988 shares during the quarter. Two Sigma Advisers LP owned 0.12% of Medtronic worth $144,420,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MDT. Evolution Wealth Advisors LLC grew its holdings in shares of Medtronic by 403.7% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 272 shares of the medical technology company’s stock worth $25,000 after purchasing an additional 218 shares in the last quarter. Price Wealth LLC grew its holdings in shares of Medtronic by 73.2% during the 2nd quarter. Price Wealth LLC now owns 291 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 123 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in shares of Medtronic by 64.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 311 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 122 shares in the last quarter. Balentine LLC bought a new position in shares of Medtronic during the 1st quarter worth approximately $33,000. Finally, Hoey Investments Inc. bought a new position in shares of Medtronic during the 2nd quarter worth approximately $46,000. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

In other Medtronic news, CFO Karen L. Parkhill sold 702 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $107.78, for a total value of $75,661.56. Following the sale, the chief financial officer now owns 87,366 shares in the company, valued at $9,416,307.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Hoedt Rob Ten sold 9,563 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $105.05, for a total value of $1,004,593.15. Following the completion of the sale, the executive vice president now owns 53,060 shares in the company, valued at approximately $5,573,953. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.

Shares of MDT stock traded down $0.08 on Wednesday, hitting $107.49. 3,685,569 shares of the stock were exchanged, compared to its average volume of 6,011,681. The company has a current ratio of 1.87, a quick ratio of 1.53 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $144.49 billion, a P/E ratio of 32.87, a price-to-earnings-growth ratio of 3.41 and a beta of 0.68. The business has a 50-day moving average of $102.15 and a 200 day moving average of $96.42. Medtronic PLC has a fifty-two week low of $72.13 and a fifty-two week high of $122.15.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 25th. The medical technology company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.41. Medtronic had a return on equity of 10.47% and a net margin of 15.80%. The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. Medtronic’s revenue was down 13.2% on a year-over-year basis. As a group, research analysts forecast that Medtronic PLC will post 3.96 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.32 annualized dividend and a yield of 2.16%. Medtronic’s payout ratio is presently 50.54%.

MDT has been the subject of several analyst reports. Raymond James raised their target price on Medtronic from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 26th. BTIG Research raised their target price on Medtronic from $102.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. CSFB reiterated a “buy” rating and issued a $117.00 price objective on shares of Medtronic in a research report on Saturday, May 23rd. Credit Suisse Group lifted their price objective on Medtronic from $117.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, August 26th. Finally, Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Medtronic in a research report on Tuesday, August 18th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $115.75.

Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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