Sigma Planning Corp Cuts Holdings in Medtronic PLC $MDT

Sigma Planning Corp reduced its position in Medtronic PLC (NYSE:MDT) by 14.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,376 shares of the medical technology company’s stock after selling 6,044 shares during the period. Sigma Planning Corp’s holdings in Medtronic were worth $2,847,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MDT. Anfield Capital Management LLC increased its stake in Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 230 shares during the last quarter. Monetary Solutions Ltd purchased a new position in shares of Medtronic in the fourth quarter valued at $27,000. Acumen Wealth Advisors LLC purchased a new position in shares of Medtronic in the fourth quarter valued at $29,000. IAG Wealth Partners LLC bought a new stake in Medtronic in the second quarter worth $30,000. Finally, Imprint Wealth LLC bought a new stake in Medtronic in the third quarter worth $31,000. 82.06% of the stock is owned by institutional investors.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.27% of the company’s stock.

Medtronic Trading Down 0.4%

MDT stock opened at $90.82 on Tuesday. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The stock has a market capitalization of $116.25 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The firm’s fifty day simple moving average is $85.81 and its two-hundred day simple moving average is $85.48.

Medtronic (NYSE:MDT) last released its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.01. The firm had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, September 25th. Medtronic’s payout ratio is 77.21%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Sanford C. Bernstein lowered their price objective on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Royal Bank Of Canada restated an “outperform” rating and issued a $118.00 target price on shares of Medtronic in a report on Thursday, June 4th. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research report on Monday, August 10th. TD Cowen lifted their price target on Medtronic from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus set a $80.00 price objective on Medtronic in a research note on Wednesday, June 3rd. Eighteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.79.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).