Traders bought shares of Medtronic Inc. (NYSE:MDT) on weakness during trading on Wednesday. $83.99 million flowed into the stock on the tick-up and $49.62 million flowed out of the stock on the tick-down, for a money net flow of $34.37 million into the stock. Of all equities tracked, Medtronic had the 8th highest net in-flow for the day. Medtronic traded down ($0.14) for the day and closed at $87.13

MDT has been the topic of several research analyst reports. SunTrust Banks Inc. initiated coverage on Medtronic in a research note on Monday, April 25th. They issued a “buy” rating and a $93.00 price objective on the stock. Vetr cut 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. Zacks Investment Research raised Medtronic from a “sell” rating to a “hold” rating in a research note on Thursday, June 2nd. BTIG Research cut Medtronic from a “buy” rating to a “neutral” rating and set a $82.00 price objective on the stock. in a research note on Wednesday, June 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $93.00 price objective (up previously from $90.00) on shares of Medtronic in a research note on Tuesday, May 31st. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $88.50.

The firm’s 50-day moving average is $87.63 and its 200 day moving average is $80.86. The firm has a market capitalization of $121.52 billion and a PE ratio of 35.13.

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

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 27th. Investors 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 represents a $1.72 dividend on an annualized basis and a dividend yield of 1.97%. This is a positive change from Medtronic’s previous quarterly dividend of $0.38.

In other Medtronic news, VP Richard Kuntz sold 49,905 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 127,647 shares in the company, valued at $10,543,642.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan C. Hanson sold 15,000 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $87.00, for a total transaction of $1,305,000.00. Following the completion of the transaction, the executive vice president now owns 108,717 shares of the company’s stock, valued at approximately $9,458,379. The disclosure for this sale can be found here.

A number of institutional investors recently added to or reduced their stakes in MDT. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in 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 in the last quarter. Principal Financial Group Inc. increased its position in Medtronic by 1.5% in the fourth quarter. Principal Financial Group Inc. now owns 1,841,019 shares of the medical technology company’s stock valued at $141,611,000 after buying an additional 27,459 shares in the last quarter. SVA Plumb Wealth Management LLC increased its position 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 in the last quarter. Courier Capital Corp increased its position in Medtronic by 5.4% in the fourth quarter. Courier Capital Corp now owns 26,192 shares of the medical technology company’s stock valued at $2,015,000 after buying an additional 1,343 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK increased its position in Medtronic by 11.3% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 544,174 shares of the medical technology company’s stock valued at $39,763,000 after buying an additional 55,300 shares in 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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