Investors bought shares of Medtronic Inc. (NYSE:MDT) on weakness during trading on Friday. $160.73 million flowed into the stock on the tick-up and $133.74 million flowed out of the stock on the tick-down, for a money net flow of $26.99 million into the stock. Of all companies tracked, Medtronic had the 14th highest net in-flow for the day. Medtronic traded down ($0.84) for the day and closed at $87.10

A number of research analysts have weighed in on MDT shares. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Medtronic in a research report on Thursday, May 26th. BMO Capital Markets reissued a “buy” rating on shares of Medtronic in a research report on Tuesday, June 7th. SunTrust Banks Inc. boosted their target price on shares of Medtronic from $93.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, June 13th. Evercore ISI reissued a “buy” rating and set a $86.50 target price on shares of Medtronic in a research report on Monday, June 27th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Medtronic in a research report on Thursday, May 19th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $87.88.

The stock has a 50-day moving average price of $86.07 and a 200 day moving average price of $79.25. The company has a market cap of $121.48 billion and a P/E ratio of 35.12.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Friday, July 8th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, July 6th. This is a positive change from Medtronic’s previous quarterly dividend of $0.38.

In other Medtronic news, EVP Bryan C. Hanson sold 15,272 shares of Medtronic stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $87.11, for a total value of $1,330,343.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shirley A. Jackson sold 2,104 shares of Medtronic stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $88.64, for a total transaction of $186,498.56. Following the completion of the sale, the director now owns 34,503 shares of the company’s stock, valued at approximately $3,058,345.92. The disclosure for this sale can be found here.

Other hedge funds have modified their holdings of the company. Wetherby Asset Management Inc. boosted its stake in shares of 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 boosted its stake in shares of 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. Condor Capital Management boosted its stake in shares of 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. WFG Advisors LP boosted its stake in shares of Medtronic by 0.5% in the fourth quarter. WFG Advisors LP now owns 18,417 shares of the medical technology company’s stock valued at $1,417,000 after buying an additional 88 shares during the period. Finally, Afam Capital Inc. boosted its stake in shares of Medtronic by 7.8% in the fourth quarter. Afam Capital Inc. now owns 22,788 shares of the medical technology company’s stock valued at $1,753,000 after buying an additional 1,648 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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