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Unusual Put Option Trade in Medtronic Worth $508.21K
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On May 30, 2023 at 12:54:25 ET an unusually large $508.21K block of Put contracts in Medtronic (MDT) was sold, with a strike price of $87.50 / share, expiring in 234 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 1.52 sigmas above the mean, placing it in the 99.98th percentile of all recent large trades made in MDT options.
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 3247 funds or institutions reporting positions in Medtronic. This is an increase of 76 owner(s) or 2.40% in the last quarter. Average portfolio weight of all funds dedicated to MDT is 0.55%, an increase of 23.64%. Total shares owned by institutions increased in the last three months by 0.33% to 1,259,911K shares. The put/call ratio of MDT is 1.01, indicating a bearish outlook.
Analyst Price Forecast Suggests 13.43% Upside
As of May 11, 2023, the average one-year price target for Medtronic is 92.40. The forecasts range from a low of 79.79 to a high of $109.20. The average price target represents an increase of 13.43% from its latest reported closing price of 81.46.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Medtronic is 30,781MM, an increase of 0.03%. The projected annual non-GAAP EPS is 5.32.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 41,196K shares representing 3.10% ownership of the company. In it’s prior filing, the firm reported owning 40,441K shares, representing an increase of 1.83%. The firm decreased its portfolio allocation in MDT by 2.43% over the last quarter.
Massachusetts Financial Services holds 36,245K shares representing 2.72% ownership of the company. In it’s prior filing, the firm reported owning 35,400K shares, representing an increase of 2.33%. The firm decreased its portfolio allocation in MDT by 84.03% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 31,039K shares representing 2.33% ownership of the company. In it’s prior filing, the firm reported owning 30,726K shares, representing an increase of 1.01%. The firm decreased its portfolio allocation in MDT by 2.82% over the last quarter.
Capital Research Global Investors holds 30,019K shares representing 2.26% ownership of the company. In it’s prior filing, the firm reported owning 28,815K shares, representing an increase of 4.01%. The firm increased its portfolio allocation in MDT by 2.04% over the last quarter.
Wellington Management Group Llp holds 29,945K shares representing 2.25% ownership of the company. In it’s prior filing, the firm reported owning 29,857K shares, representing an increase of 0.29%. The firm decreased its portfolio allocation in MDT by 85.49% over the last quarter.
Medtronic Declares $0.69 Dividend
On May 24, 2023 the company declared a regular quarterly dividend of $0.69 per share ($2.76 annualized). Shareholders of record as of June 23, 2023 will receive the payment on July 14, 2023. Previously, the company paid $0.68 per share.
At the current share price of $81.46 / share, the stock’s dividend yield is 3.39%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.34%, the lowest has been 1.77%, and the highest has been 3.57%. The standard deviation of yields is 0.45 (n=237).
The current dividend yield is 2.33 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.89. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.26%, demonstrating that it has increased its dividend over time.
Medtronic Background Information
(This description is provided by the company.)
Medtronic plc, headquartered in Dublin, Ireland, is among the world’s largest medical technology, services and solutions companies – alleviating pain, restoring health and extending life for millions of people around the world. Medtronic employs more than 90,000 people worldwide, serving physicians, hospitals and patients in more than 150 countries. The company is focused on collaborating with stakeholders around the world to take healthcare Further, Together.
Key filings for this company:
This article originally appeared on Fintel
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