Investors Buy Medtronic (MDT) on Weakness

Investors purchased shares of Medtronic plc. (NYSE:MDT) on weakness during trading hours on Tuesday. $205.36 million flowed into the stock on the tick-up and $120.66 million flowed out of the stock on the tick-down, for a money net flow of $84.70 million into the stock. Of all stocks tracked, Medtronic had the 14th highest net in-flow for the day. Medtronic traded down ($1.70) for the day and closed at $81.61

Several research analysts have commented on the stock. Oppenheimer set a $94.00 price target on shares of Medtronic and gave the company a “buy” rating in a report on Friday, January 19th. Morgan Stanley raised their price target on shares of Medtronic from $91.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Stifel Nicolaus raised their price target on shares of Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, November 22nd. Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. Finally, Jefferies Group reissued a “buy” rating and issued a $99.00 price target on shares of Medtronic in a report on Thursday, November 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $90.45.

The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $112,760.00, a price-to-earnings ratio of 22.42, a PEG ratio of 2.29 and a beta of 0.93.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.17. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.20 billion. During the same period in the previous year, the firm posted $1.12 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. research analysts predict that Medtronic plc. will post 4.76 EPS for the current fiscal year.

In related news, EVP Hooman Hakami sold 26,158 shares of Medtronic stock in a transaction on Friday, January 5th. The shares were sold at an average price of $85.00, for a total value of $2,223,430.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Richard Kuntz sold 78,526 shares of Medtronic stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the completion of the transaction, the vice president now owns 149,761 shares in the company, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. Insiders have sold a total of 120,684 shares of company stock valued at $10,318,276 over the last ninety days. 0.31% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. Arcus Capital Partners LLC raised its position in Medtronic by 0.8% in the 2nd quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock worth $288,000 after purchasing an additional 25 shares during the period. Fiera Capital Corp raised its position in Medtronic by 0.5% in the 2nd quarter. Fiera Capital Corp now owns 6,832 shares of the medical technology company’s stock worth $606,000 after purchasing an additional 37 shares during the period. Chemical Bank raised its position in Medtronic by 0.4% in the 2nd quarter. Chemical Bank now owns 11,623 shares of the medical technology company’s stock worth $1,031,000 after purchasing an additional 46 shares during the period. Flagship Harbor Advisors LLC raised its position in Medtronic by 1.0% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 4,724 shares of the medical technology company’s stock worth $410,000 after purchasing an additional 47 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its position in Medtronic by 0.3% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 28,284 shares of the medical technology company’s stock worth $2,510,000 after purchasing an additional 72 shares during the period. Institutional investors own 79.83% of the company’s stock.

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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.

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