Traders bought shares of Medtronic Inc. (NYSE:MDT) on weakness during trading on Wednesday. $72.17 million flowed into the stock on the tick-up and $45.65 million flowed out of the stock on the tick-down, for a money net flow of $26.52 million into the stock. Of all equities tracked, Medtronic had the 31st highest net in-flow for the day. Medtronic traded down ($0.97) for the day and closed at $86.67

Several brokerages recently weighed in on MDT. Goldman Sachs Group Inc. restated a “buy” rating on shares of Medtronic in a research note on Wednesday, July 6th. Vetr upgraded Medtronic from a “hold” rating to a “buy” rating and set a $89.64 target price on the stock in a research note on Thursday, June 9th. SunTrust Banks Inc. boosted their target price on Medtronic from $93.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, June 13th. Deutsche Bank AG restated a “buy” rating and set a $90.00 target price on shares of Medtronic in a research note on Wednesday, June 15th. Finally, Guggenheim began coverage on Medtronic in a research note on Wednesday, June 8th. They set a “neutral” rating on the stock. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $87.88.

The firm has a market cap of $120.88 billion and a PE ratio of 34.95. The company’s 50-day moving average price is $86.72 and its 200-day moving average price is $80.02.

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

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

In other Medtronic news, VP Richard Kuntz sold 49,905 shares of Medtronic stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $82.60, for a total value of $4,122,153.00. Following the completion of the sale, the vice president now directly owns 127,647 shares of the company’s stock, valued at approximately $10,543,642.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shirley A. Jackson sold 2,104 shares of Medtronic stock in a transaction that occurred on 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 directly owns 34,503 shares of the company’s stock, valued at $3,058,345.92. The disclosure for this sale can be found here.

A number of hedge funds have recently added to or reduced their stakes in MDT. Morgan Stanley boosted its stake in Medtronic by 12.1% in the fourth quarter. Morgan Stanley now owns 9,095,598 shares of the medical technology company’s stock valued at $699,632,000 after buying an additional 979,589 shares during the last quarter. SVA Plumb Wealth Management LLC boosted its stake in Medtronic by 0.5% in the fourth quarter. SVA Plumb Wealth Management LLC now owns 44,808 shares of the medical technology company’s stock valued at $3,447,000 after buying an additional 235 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Medtronic by 1.1% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 91,872 shares of the medical technology company’s stock valued at $7,067,000 after buying an additional 1,010 shares during the last quarter. Azimuth Capital Management LLC boosted its stake in Medtronic by 2.9% in the fourth quarter. Azimuth Capital Management LLC now owns 53,520 shares of the medical technology company’s stock valued at $4,117,000 after buying an additional 1,524 shares during the last quarter. Finally, Madison Investment Holdings Inc. boosted its stake in Medtronic by 15.9% in the fourth quarter. Madison Investment Holdings Inc. now owns 228,932 shares of the medical technology company’s stock valued at $17,609,000 after buying an additional 31,400 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.