Medtronic Inc. (NYSE:MDT) shares reached a new 52-week high during trading on Thursday . The company traded as high as $88.10 and last traded at $87.67, with a volume of 1,832,269 shares changing hands. The stock had previously closed at $87.45.

MDT has been the topic of a number of recent analyst reports. Bank of America Corp. reaffirmed a “buy” rating and issued a $90.00 target price on shares of Medtronic in a research report on Thursday, April 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price (up from $88.00) on shares of Medtronic in a research report on Tuesday, April 5th. Vetr downgraded shares of Medtronic from a “strong-buy” rating to a “buy” rating and set a $85.23 target price on the stock. in a research report on Monday, April 4th. SunTrust Banks Inc. initiated coverage on shares of Medtronic in a research report on Monday, April 25th. They issued a “buy” rating and a $93.00 target price on the stock. Finally, Nomura Holdings Inc. initiated coverage on shares of Medtronic in a research report on Thursday, March 17th. They issued a “buy” rating and a $86.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $87.88.

The stock has a market capitalization of $123.24 billion and a price-to-earnings ratio of 35.63. The firm’s 50-day moving average price is $84.08 and its 200-day moving average price is $78.46.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, May 31st. The medical technology company reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.01. During the same quarter in the prior year, the company earned $1.16 EPS. The company earned $7.57 billion during the quarter, compared to the consensus estimate of $7.49 billion. The business’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities research analysts forecast that Medtronic Inc. will post $4.66 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Friday, July 8th will be given a dividend of $0.43 per share. This is an increase from Medtronic’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, July 6th. This represents a $1.72 annualized dividend and a dividend yield of 1.95%.

In other news, SVP Carol A. Surface sold 9,787 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $87.08, for a total transaction of $852,251.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard Kuntz sold 49,905 shares of the firm’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $82.60, for a total transaction of $4,122,153.00. Following the transaction, the vice president now owns 127,647 shares of the company’s stock, valued at approximately $10,543,642.20. The disclosure for this sale can be found here.

Several institutional investors have bought and sold shares of MDT. Wetherby Asset Management Inc. raised its position in Medtronic by 84.9% in the fourth quarter. Wetherby Asset Management Inc. now owns 13,855 shares of the medical technology company’s stock valued at $1,066,000 after buying an additional 6,360 shares during the period. Fernwood Investment Management LLC raised its position in Medtronic by 2.9% in the fourth quarter. Fernwood Investment Management LLC now owns 15,677 shares of the medical technology company’s stock valued at $1,206,000 after buying an additional 439 shares during the period. Wesbanco Bank Inc. raised its position in Medtronic by 4.6% in the fourth quarter. Wesbanco Bank Inc. now owns 16,521 shares of the medical technology company’s stock valued at $1,271,000 after buying an additional 725 shares during the period. Condor Capital Management raised its position in Medtronic by 1.1% in the fourth quarter. Condor Capital Management now owns 17,351 shares of the medical technology company’s stock valued at $1,335,000 after buying an additional 195 shares during the period. Finally, MetLife Securities Inc raised its position in Medtronic by 87.3% in the fourth quarter. MetLife Securities Inc now owns 17,749 shares of the medical technology company’s stock valued at $1,365,000 after buying an additional 8,271 shares during the period.

Medtronic plc (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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