Traders sold shares of Medtronic plc. (NYSE:MDT) on strength during trading hours on Monday. $47.94 million flowed into the stock on the tick-up and $139.89 million flowed out of the stock on the tick-down, for a money net flow of $91.95 million out of the stock. Of all equities tracked, Medtronic had the 10th highest net out-flow for the day. Medtronic traded up $0.15 for the day and closed at $83.30
A number of analysts recently commented on MDT shares. Bank of America upgraded Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Oppenheimer reiterated a “buy” rating on shares of Medtronic in a research report on Thursday, December 21st. Argus upgraded Medtronic from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $81.27 to $95.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. SunTrust Banks set a $92.00 target price on Medtronic and gave the stock a “buy” rating in a research report on Sunday, November 19th. Finally, Jefferies Group restated a “buy” rating and set a $99.00 target price on shares of Medtronic in a research report on Thursday, November 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. Medtronic currently has a consensus rating of “Buy” and a consensus price target of $91.50.
The company has a current ratio of 2.43, a quick ratio of 2.09 and a debt-to-equity ratio of 0.51. The firm has a market cap of $112,700.00, a price-to-earnings ratio of 40.83, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97.
Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.01. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. The business had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.20 billion. During the same quarter in the previous year, the business posted $1.12 EPS. Medtronic’s revenue for the quarter was up 1.2% on a year-over-year basis. sell-side analysts expect that Medtronic plc. will post 4.75 earnings per share for the current year.
In other Medtronic news, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the sale, the vice president now owns 149,761 shares in the company, valued at approximately $12,910,895.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $82.82, for a total value of $1,325,120.00. Following the completion of the sale, the executive vice president now owns 88,818 shares in the company, valued at approximately $7,355,906.76. The disclosure for this sale can be found here. Insiders have sold a total of 145,163 shares of company stock worth $12,232,045 in the last quarter. 0.31% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Medtronic by 6.4% in the 4th quarter. BlackRock Inc. now owns 94,595,580 shares of the medical technology company’s stock valued at $7,638,592,000 after acquiring an additional 5,688,180 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Medtronic by 1.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 23,853,034 shares of the medical technology company’s stock worth $1,855,050,000 after purchasing an additional 269,814 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Medtronic by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 14,191,675 shares of the medical technology company’s stock worth $1,143,549,000 after purchasing an additional 351,256 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Medtronic by 6.3% during the 4th quarter. Wells Fargo & Company MN now owns 13,159,777 shares of the medical technology company’s stock worth $1,062,652,000 after purchasing an additional 781,446 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Medtronic by 20.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,388,438 shares of the medical technology company’s stock worth $885,673,000 after purchasing an additional 1,954,535 shares during the last quarter. Hedge funds and other institutional investors own 80.79% of the company’s stock.
Medtronic Company Profile
Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.