It Seems Medtronic PLC Will Go Down. Had Bearish Options Activity

 It Seems Medtronic PLC Will Go Down. Had Bearish Options Activity

In today’s session Medtronic PLC (MDT) recorded an unusually high (359) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious MDT decrease. With 359 contracts traded and 3844 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: MDT161216P00082500 closed last at: $2.54 or 8.1% up. About 1.37M shares traded hands. Medtronic PLC (NYSE:MDT) has risen 7.44% since March 15, 2016 and is uptrending. It has outperformed by 1.96% the S&P500.

Medtronic PLC (NYSE:MDT) Ratings Coverage

Out of 17 analysts covering Medtronic (NYSE:MDT), 13 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 76% are positive. Medtronic has been the topic of 23 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Citigroup on Tuesday, August 23. On Wednesday, June 1 the stock rating was maintained by Wedbush with “Neutral”. The stock of Medtronic PLC (NYSE:MDT) has “Buy” rating given on Thursday, March 17 by Nomura. Jefferies maintained Medtronic PLC (NYSE:MDT) on Friday, August 26 with “Buy” rating. The stock has “Buy” rating given by Needham on Friday, August 26. SunTrust initiated the shares of MDT in a report on Monday, April 25 with “Buy” rating. The rating was maintained by RBC Capital Markets on Tuesday, September 29 with “Outperform”. Needham maintained the shares of MDT in a report on Tuesday, June 7 with “Buy” rating. The firm has “Buy” rating given on Monday, June 13 by SunTrust. As per Wednesday, June 1, the company rating was downgraded by BTIG Research.

Insitutional Activity: The institutional sentiment decreased to 0.8 in 2016 Q2. Its down 0.09, from 0.89 in 2016Q1. The ratio turned negative, as 60 funds sold all Medtronic PLC shares owned while 508 reduced positions. 93 funds bought stakes while 361 increased positions. They now own 1.03 billion shares or 1.89% more from 1.01 billion shares in 2016Q1.
Oregon Public Employees Retirement Fund has 0.41% invested in the company for 209,985 shares. Moreover, Papp L Roy And Associate has 0.12% invested in Medtronic PLC (NYSE:MDT) for 5,975 shares. Neville Rodie & Shaw Inc last reported 0.21% of its portfolio in the stock. Trustmark Bank Trust Department owns 3,995 shares or 0.04% of their US portfolio. 1832 Asset Mgmt Limited Partnership has invested 1.1% of its portfolio in Medtronic PLC (NYSE:MDT). The Massachusetts-based Appleton Partners Ma has invested 1.6% in Medtronic PLC (NYSE:MDT). Perkins Coie Tru has invested 1.42% of its portfolio in Medtronic PLC (NYSE:MDT). Moreover, Tortoise Investment Ltd Liability Company has 0% invested in Medtronic PLC (NYSE:MDT) for 127 shares. Gemmer Asset Management has 382 shares for 0.02% of their US portfolio. Ativo Capital Ltd Com has invested 0.82% of its portfolio in Medtronic PLC (NYSE:MDT). Pineno Levin And Ford Asset Mgmt holds 0.24% or 5,323 shares in its portfolio. Park Avenue Secs Ltd Liability has 0.04% invested in the company for 2,766 shares. Riverpoint Capital Management Ltd Liability Co holds 198,063 shares or 1.54% of its portfolio. Grisanti Mngmt Ltd Llc last reported 184,038 shares in the company. Aperio Gru Ltd Liability Corp holds 478,831 shares or 0.32% of its portfolio.

Medtronic Public Limited Company is a medical technology and services company. The company has a market cap of $115.65 billion. The Firm develops, makes and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. It has a 32.53 P/E ratio. The Firm operates in four divisions: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

MDT Company Profile

Medtronic Public Limited Company (Medtronic), incorporated on June 12, 2014, is a medical technology, services and solutions company. The Firm operates in four divisions: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group and Diabetes Group. The Cardiac and Vascular Group segment includes cardiac rhythm and heart failure, coronary and structural heart, and aortic and peripheral vascular. The Company’s Minimally Invasive Therapies Group segment includes surgical solutions, and patient monitoring and recovery. The Company’s Restorative Therapies Group segment includes spine, neuromodulation, surgical technologies and neurovascular. The Company’s Diabetes Group segment includes intensive insulin management, non-intensive diabetes therapies, and diabetes services and solutions. The Company’s subsidiaries include Medtronic, Inc. and HeartWare International, Inc.

Another recent and important Medtronic PLC (NYSE:MDT) news was published by Forbes.com which published an article titled: “January 2019 Options Now Available For Medtronic (MDT)” on October 17, 2016.

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