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

Investors sold shares of Medtronic PLC (NYSE:MDT) on strength during trading hours on Thursday. $79.90 million flowed into the stock on the tick-up and $117.63 million flowed out of the stock on the tick-down, for a money net flow of $37.73 million out of the stock. Of all companies tracked, Medtronic had the 0th highest net out-flow for the day. Medtronic traded up $0.62 for the day and closed at $94.74

A number of research firms have weighed in on MDT. Oppenheimer reissued a “buy” rating on shares of Medtronic in a report on Friday, September 21st. BMO Capital Markets raised their price objective on shares of 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 raised their price objective on shares of Medtronic to $104.00 and gave the stock an “outperform” rating in a report on Wednesday, August 22nd. Argus raised their price objective on shares of Medtronic from $108.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 8th. Finally, Zacks Investment Research raised shares of Medtronic from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a report on Tuesday, October 23rd. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $102.58.

The company has a current ratio of 2.46, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $127.11 billion, a PE ratio of 19.49, a P/E/G ratio of 2.50 and a beta of 0.94.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. The business had revenue of $7.38 billion for the quarter, compared to analyst estimates of $7.24 billion. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share. Analysts forecast that Medtronic PLC will post 5.12 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Friday, September 28th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.12%. Medtronic’s dividend payout ratio (DPR) is presently 41.93%.

In related news, EVP Michael J. Coyle sold 145,544 shares of Medtronic stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $95.50, for a total value of $13,899,452.00. Following the transaction, the executive vice president now directly owns 190,680 shares in the company, valued at approximately $18,209,940. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Richard Kuntz sold 47,176 shares of Medtronic stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $95.88, for a total transaction of $4,523,234.88. Following the completion of the transaction, the senior vice president now owns 152,579 shares in the company, valued at $14,629,274.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 268,678 shares of company stock worth $25,818,353. 0.28% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the stock. Ballew Advisors Inc purchased a new stake in shares of Medtronic during the 2nd quarter worth $100,000. Fort L.P. purchased a new stake in shares of Medtronic during the 2nd quarter worth $121,000. Global Trust Asset Management LLC boosted its position in shares of Medtronic by 112.1% during the 2nd quarter. Global Trust Asset Management LLC now owns 1,523 shares of the medical technology company’s stock worth $130,000 after purchasing an additional 805 shares in the last quarter. Polaris Greystone Financial Group LLC boosted its position in shares of Medtronic by 255.1% during the 3rd quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock worth $130,000 after purchasing an additional 949 shares in the last quarter. Finally, Trustcore Financial Services LLC boosted its position in shares of Medtronic by 97.3% during the 2nd quarter. Trustcore Financial Services LLC now owns 1,760 shares of the medical technology company’s stock worth $151,000 after purchasing an additional 868 shares in the last quarter. Hedge funds and other institutional investors own 80.00% of the company’s stock.

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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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