Traders bought shares of Medtronic Inc. (NYSE:MDT) on weakness during trading hours on Monday. $62.01 million flowed into the stock on the tick-up and $36.26 million flowed out of the stock on the tick-down, for a money net flow of $25.75 million into the stock. Of all companies tracked, Medtronic had the 20th highest net in-flow for the day. Medtronic traded down ($0.18) for the day and closed at $86.92

A number of equities research analysts recently commented on the company. Bank of America Corp. restated a “buy” rating on shares of Medtronic in a research report on Sunday, May 22nd. Vetr upgraded Medtronic from a “buy” rating to a “strong-buy” rating and set a $89.50 price target on the stock in a research report on Monday, May 2nd. BTIG Research lowered Medtronic from a “buy” rating to a “neutral” rating and set a $82.00 price target on the stock. in a research report on Tuesday, May 31st. Zacks Investment Research lowered Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd. Finally, Needham & Company LLC restated a “buy” rating on shares of Medtronic in a research report on Monday, June 27th. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $87.88.

The stock’s 50 day moving average price is $86.19 and its 200-day moving average price is $79.38. The company has a market cap of $121.23 billion and a price-to-earnings ratio of 35.05.

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

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Friday, July 8th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Wednesday, July 6th. This is an increase from Medtronic’s previous quarterly dividend of $0.38.

In other Medtronic news, Director Shirley A. Jackson sold 2,104 shares of the business’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $88.64, for a total value of $186,498.56. Following the transaction, the director now owns 34,503 shares in the company, valued at $3,058,345.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard Kuntz sold 49,905 shares of the business’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 completion of the transaction, the vice president now owns 127,647 shares in the company, valued at approximately $10,543,642.20. The disclosure for this sale can be found here.

Several institutional investors have recently added to or reduced their stakes in MDT. Wetherby Asset Management Inc. boosted 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 worth $1,066,000 after buying an additional 6,360 shares during the last quarter. Fernwood Investment Management LLC raised 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 worth $1,206,000 after buying an additional 439 shares during the last quarter. Condor Capital Management raised 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 worth $1,335,000 after buying an additional 195 shares during the last quarter. WFG Advisors LP raised 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 worth $1,417,000 after buying an additional 88 shares during the last quarter. Finally, Afam Capital Inc. raised 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 worth $1,753,000 after buying an additional 1,648 shares during the last quarter.

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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