Investors Buy Medtronic (MDT) on Weakness

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.

Medtronic (NYSE:MDT) last released its earnings results on Thursday, May 24th. The medical technology company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The business had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8 billion. During the same period in the prior year, the business earned $1.33 earnings per share. The business’s quarterly revenue was up 2.9% on a year-over-year basis. research analysts anticipate that Medtronic PLC will post 4.74 EPS for the current fiscal year.

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.

About Medtronic

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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