This article first appeared on GuruFocus.
ETFs sold a net $222.5 million of Medtronic (MDT) in Tuesday’s session, with 23 funds selling and 19 buying. The move followed a $12.3 million net purchase on Oct. 12 and a $0.5 million net purchase on Oct. 9. It was the first day of net selling after two straight days of net buying, and 125 ETFs held their positions unchanged.
For the full record of ETF and guru buying and selling in MDT, see the MDT guru trades page.
Which ETFs sold MDT on Tuesday?
The largest sellers by dollar value were IVV ($69.1 million), SPY ($61.3 million) and XLV ($38.6 million). In all, 19 ETFs added shares and 23 cut them.
Among the ETFs behind the move, IVV sold $69.1 million, SPY sold $61.3 million, XLV sold $38.6 million, IHI sold $16.5 million and SPYM sold $14.1 million. Medtronic operates in the Healthcare sector and Medical Devices industry, with a market cap of $120.5 billion.
Have ETFs been buying or selling MDT lately?
Over the last 5 reported days, ETFs were net buyers on 3 and net sellers on 2, so the recent trend is mostly buying.
What does MDT do?
Medtronic is one of the world’s largest medical device companies, serving healthcare systems in about 150 countries. Its Cardiovascular portfolio leads in pacemakers, defibrillators, and transcatheter heart valves, with its Micra leadless pacemaker and pulsed-field ablation systems for atrial fibrillation among key growth drivers.
Medtronic reported trailing-12-month revenue of $37.54 billion, up 9.7% year over year, with a gross margin of 60.6% and a net margin of 13.9%. The stock trades at a P/E of 23.2, P/B of 2.4 and P/S of 3.23. Its GF Score is 80, and the GF Value of $101.05 compares with a price of $94.23. The dividend yield is 2.94% and the year-to-date return is 0.61%.
MDT at a glance
Compare MDT’s share price with its GF Value, see recent insider trades, or check which gurus own MDT.
