Traders Sell Shares of Medtronic (MDT) on Strength (MDT)

Traders sold shares of Medtronic PLC (NYSE:MDT) on strength during trading hours on Monday. $94.07 million flowed into the stock on the tick-up and $166.66 million flowed out of the stock on the tick-down, for a money net flow of $72.59 million out of the stock. Of all equities tracked, Medtronic had the 33rd highest net out-flow for the day. Medtronic traded up $1.22 for the day and closed at $98.75

A number of brokerages have issued reports on MDT. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a report on Friday, September 21st. BMO Capital Markets upped their target price on Medtronic from $94.00 to $104.00 and gave the stock an “outperform” rating in a report on Wednesday, August 22nd. Royal Bank of Canada upped their target price on Medtronic to $104.00 and gave the stock an “outperform” rating in a report on Wednesday, August 22nd. Argus upped their price target on Medtronic from $108.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 8th. Finally, Zacks Investment Research upgraded Medtronic from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research report on Tuesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $104.87.

The stock has a market cap of $130.99 billion, a P/E ratio of 20.70, a PEG ratio of 2.54 and a beta of 0.96. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.56 and a quick ratio of 2.11.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 20th. The medical technology company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.07. Medtronic had a return on equity of 13.51% and a net margin of 7.44%. The firm had revenue of $7.48 billion for the quarter, compared to analyst estimates of $7.35 billion. During the same quarter in the previous year, the company posted $1.07 EPS. The business’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts expect that Medtronic PLC will post 5.13 earnings per share for the current year.

In related news, EVP Geoffrey Martha sold 49,799 shares of the company’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $97.93, for a total transaction of $4,876,816.07. Following the sale, the executive vice president now owns 87,872 shares in the company, valued at approximately $8,605,304.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.28% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC boosted its holdings in Medtronic by 24.4% in the second quarter. Chicago Partners Investment Group LLC now owns 2,699 shares of the medical technology company’s stock worth $231,000 after acquiring an additional 530 shares in the last quarter. Wesbanco Bank Inc. boosted its holdings in Medtronic by 0.5% in the third quarter. Wesbanco Bank Inc. now owns 106,601 shares of the medical technology company’s stock worth $10,486,000 after acquiring an additional 538 shares in the last quarter. Duncker Streett & Co. Inc. boosted its holdings in Medtronic by 3.0% in the third quarter. Duncker Streett & Co. Inc. now owns 18,383 shares of the medical technology company’s stock worth $1,808,000 after acquiring an additional 544 shares in the last quarter. Telemus Capital LLC boosted its holdings in Medtronic by 4.9% in the third quarter. Telemus Capital LLC now owns 11,590 shares of the medical technology company’s stock worth $1,140,000 after acquiring an additional 544 shares in the last quarter. Finally, Strategic Financial Services Inc boosted its holdings in Medtronic by 1.0% in the second quarter. Strategic Financial Services Inc now owns 57,707 shares of the medical technology company’s stock worth $4,940,000 after acquiring an additional 554 shares in the last quarter. Institutional investors own 80.44% of the company’s stock.

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About Medtronic (NYSE:MDT)

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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