Medtronic Inc. (NYSE:MDT) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $89.27 and last traded at $88.18, with a volume of 2,195,705 shares trading hands. The stock had previously closed at $88.83.

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective (up from $88.00) on shares of Medtronic in a research note on Tuesday, April 5th. Bank of America Corp. restated a “buy” rating and set a $90.00 price objective on shares of Medtronic in a research note on Friday, March 25th. Nomura Holdings Inc. assumed coverage on shares of Medtronic in a research note on Thursday, March 17th. They set a “buy” rating and a $86.00 price objective on the stock. SunTrust Banks Inc. assumed coverage on shares of Medtronic in a research note on Monday, April 25th. They set a “buy” rating and a $93.00 price objective on the stock. Finally, Vetr cut shares of Medtronic from a “strong-buy” rating to a “buy” rating and set a $89.50 price objective on the stock. in a research note on Monday, May 9th. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Medtronic currently has an average rating of “Buy” and a consensus target price of $87.88.

The firm has a 50 day moving average of $85.02 and a 200-day moving average of $78.78. The company has a market capitalization of $123.20 billion and a PE ratio of 35.62.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, May 31st. The medical technology company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.01. The company earned $7.57 billion during the quarter, compared to the consensus estimate of $7.49 billion. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.16 EPS. Equities research analysts predict that Medtronic Inc. will post $4.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Friday, July 8th will be issued a $0.43 dividend. The ex-dividend date is Wednesday, July 6th. This represents a $1.72 annualized dividend and a dividend yield of 1.94%. This is a boost from Medtronic’s previous quarterly dividend of $0.38.

In other Medtronic news, EVP Bryan C. Hanson sold 15,272 shares of the stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $87.11, for a total value of $1,330,343.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carol A. Surface sold 9,787 shares of the stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $87.08, for a total value of $852,251.96. The disclosure for this sale can be found here.

Several large investors have made changes to their positions in the company. Commerzbank Aktiengesellschaft FI increased its stake in shares of Medtronic by 1.2% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 172,849 shares of the medical technology company’s stock valued at $13,296,000 after buying an additional 1,977 shares during the period. Conning Inc. increased its stake in shares of Medtronic by 2.2% in the fourth quarter. Conning Inc. now owns 36,320 shares of the medical technology company’s stock valued at $2,794,000 after buying an additional 792 shares during the period. Vanguard Group Inc. increased its stake in shares of Medtronic by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 89,739,674 shares of the medical technology company’s stock valued at $6,902,776,000 after buying an additional 2,935,600 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake in shares of Medtronic by 2.8% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 191,907 shares of the medical technology company’s stock valued at $14,761,000 after buying an additional 5,257 shares during the period. Finally, Howland Capital Management LLC increased its stake in shares of Medtronic by 4.2% in the fourth quarter. Howland Capital Management LLC now owns 176,481 shares of the medical technology company’s stock valued at $13,575,000 after buying an additional 7,110 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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