Traders bought shares of Medtronic PLC (NYSE:MDT) on weakness during trading hours on Thursday. $136.67 million flowed into the stock on the tick-up and $75.63 million flowed out of the stock on the tick-down, for a money net flow of $61.04 million into the stock. Of all companies tracked, Medtronic had the 19th highest net in-flow for the day. Medtronic traded down ($0.21) for the day and closed at $95.50

Several research firms have issued reports on MDT. Oppenheimer restated a “buy” rating on shares of Medtronic in a research note on Friday, September 21st. BMO Capital Markets upped their price objective on Medtronic from $94.00 to $104.00 and gave the company an “outperform” rating in a research note on Wednesday, August 22nd. Royal Bank of Canada upped their price objective on Medtronic to $104.00 and gave the company an “outperform” rating in a research note on Wednesday, August 22nd. Argus upped their price objective on Medtronic from $108.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 8th. Finally, Zacks Investment Research upgraded Medtronic from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note 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 given a strong buy rating to the company’s stock. Medtronic has an average rating of “Buy” and a consensus price target of $104.87.

The company has a quick ratio of 2.11, a current ratio of 2.56 and a debt-to-equity ratio of 0.48. The stock has a market cap of $128.22 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.48 and a beta of 0.96.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, January 18th. Stockholders of record on Friday, December 28th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, December 27th. Medtronic’s payout ratio is 41.93%.

In other news, EVP Geoffrey Martha sold 49,799 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $97.93, for a total value of $4,876,816.07. Following the transaction, the executive vice president now owns 87,872 shares of the company’s stock, valued at $8,605,304.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.28% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of MDT. Alps Advisors Inc. grew its position in Medtronic by 9.5% during the second quarter. Alps Advisors Inc. now owns 14,104 shares of the medical technology company’s stock worth $1,207,000 after buying an additional 1,218 shares in the last quarter. Greenleaf Trust grew its position in Medtronic by 91.2% during the second quarter. Greenleaf Trust now owns 10,368 shares of the medical technology company’s stock worth $888,000 after buying an additional 4,945 shares in the last quarter. Eagle Asset Management Inc. grew its position in Medtronic by 43.5% during the second quarter. Eagle Asset Management Inc. now owns 294,557 shares of the medical technology company’s stock worth $25,217,000 after buying an additional 89,255 shares in the last quarter. Doyle Wealth Management grew its position in Medtronic by 5.7% during the second quarter. Doyle Wealth Management now owns 14,780 shares of the medical technology company’s stock worth $1,265,000 after buying an additional 799 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its position in Medtronic by 2.8% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 140,786 shares of the medical technology company’s stock worth $12,053,000 after buying an additional 3,849 shares in the last quarter. 80.89% of the stock is currently owned by institutional investors and hedge funds.

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Medtronic Company Profile (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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