Two Sigma Securities LLC Has $940,000 Holdings in Medtronic PLC $MDT

Two Sigma Securities LLC raised its position in shares of Medtronic PLC (NYSE:MDT) by 180.0% in the second quarter, HoldingsChannel reports. The fund owned 12,011 shares of the medical technology company’s stock after acquiring an additional 7,721 shares during the period. Two Sigma Securities LLC’s holdings in Medtronic were worth $940,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MDT. BlackRock Inc. grew its holdings in Medtronic by 0.7% in the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock valued at $8,919,846,000 after buying an additional 838,220 shares in the last quarter. State Street Corp boosted its position in shares of Medtronic by 2.0% in the fourth quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock valued at $5,966,780,000 after acquiring an additional 1,199,621 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Medtronic by 2.7% in the fourth quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock valued at $5,150,420,000 after acquiring an additional 1,419,730 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Medtronic by 12.6% in the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after acquiring an additional 3,880,174 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Medtronic by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock worth $2,665,832,000 after acquiring an additional 231,919 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Medtronic in a research note on Tuesday, August 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $118.00 target price on shares of Medtronic in a report on Thursday, June 4th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research note on Monday, August 10th. Stifel Nicolaus set a $80.00 price target on Medtronic in a research report on Wednesday, June 3rd. Finally, Needham & Company LLC raised their price objective on Medtronic from $101.00 to $114.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Eighteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.79.

Medtronic Price Performance

MDT stock opened at $90.82 on Tuesday. The company’s 50-day moving average price is $85.81 and its two-hundred day moving average price is $85.48. The firm has a market cap of $116.25 billion, a P/E ratio of 24.35, a P/E/G 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. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The company had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current fiscal 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 paid a dividend of $0.72 per share. The ex-dividend date is Friday, September 25th. This represents a $2.88 annualized dividend and a yield of 3.2%. Medtronic’s dividend payout ratio is presently 77.21%.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the transaction, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

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).