Investors purchased shares of Medtronic PLC (NYSE:MDT) on weakness during trading on Friday. $101.16 million flowed into the stock on the tick-up and $66.71 million flowed out of the stock on the tick-down, for a money net flow of $34.45 million into the stock. Of all stocks tracked, Medtronic had the 30th highest net in-flow for the day. Medtronic traded down ($0.69) for the day and closed at $86.30
Several research analysts have commented on the stock. Piper Jaffray Companies upped their target price on shares of Medtronic to $96.00 and gave the stock an “overweight” rating in a research report on Friday. Morgan Stanley upped their target price on shares of Medtronic from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday. Oppenheimer reiterated a “buy” rating and issued a $96.00 price objective on shares of Medtronic in a report on Thursday. TheStreet upgraded shares of Medtronic from a “c+” rating to a “b-” rating in a report on Monday. Finally, SunTrust Banks increased their price objective on shares of Medtronic to $96.00 and gave the company a “buy” rating in a report on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. Medtronic has a consensus rating of “Buy” and a consensus price target of $92.29.
The company has a market cap of $115.56 billion, a P/E ratio of 18.76, a P/E/G ratio of 2.34 and a beta of 0.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.09 and a current ratio of 2.43.
In related news, Director James T. Lenehan sold 1,306 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $83.56, for a total transaction of $109,129.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Carol A. Surface sold 24,479 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $78.18, for a total transaction of $1,913,768.22. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. We Are One Seven LLC purchased a new stake in shares of Medtronic in the 4th quarter valued at approximately $104,000. BDO Wealth Advisors LLC lifted its position in shares of Medtronic by 99.6% in the 1st quarter. BDO Wealth Advisors LLC now owns 1,427 shares of the medical technology company’s stock valued at $115,000 after acquiring an additional 712 shares in the last quarter. BB&T Investment Services Inc. lifted its position in shares of Medtronic by 147.6% in the 4th quarter. BB&T Investment Services Inc. now owns 1,518 shares of the medical technology company’s stock valued at $126,000 after acquiring an additional 905 shares in the last quarter. Barrett Asset Management LLC lifted its position in shares of Medtronic by 856.0% in the 4th quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock valued at $147,000 after acquiring an additional 1,635 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in shares of Medtronic by 51.2% in the 4th quarter. Proficio Capital Partners LLC now owns 2,201 shares of the medical technology company’s stock valued at $178,000 after acquiring an additional 745 shares in the last quarter. Institutional investors and hedge funds own 80.37% of the company’s stock.
Medtronic plc manufactures and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. The company's Cardiac and Vascular Group segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; diagnostics and monitoring devices; mechanical circulatory support, TYRX, and AF products; and remote monitoring and patient-centered software.
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