Traders sold shares of Medtronic Inc. (NYSE:MDT) on strength during trading on Wednesday. $65.38 million flowed into the stock on the tick-up and $111.23 million flowed out of the stock on the tick-down, for a money net flow of $45.85 million out of the stock. Of all stocks tracked, Medtronic had the 0th highest net out-flow for the day. Medtronic traded up $0.18 for the day and closed at $87.03

Several equities analysts have commented on the company. Credit Suisse Group AG reiterated a “buy” rating and issued a $85.00 target price on shares of Medtronic in a research report on Tuesday, May 31st. Deutsche Bank AG reiterated a “buy” rating and issued a $90.00 target price on shares of Medtronic in a research report on Wednesday, June 15th. Argus restated a “hold” rating on shares of Medtronic in a research report on Monday, June 20th. Zacks Investment Research upgraded Medtronic from a “sell” rating to a “hold” rating in a research report on Friday, May 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $93.00 price objective (up from $90.00) on shares of Medtronic in a research report on Tuesday, June 7th. Six investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $89.93.

The company has a 50 day moving average price of $87.47 and a 200 day moving average price of $81.75. The firm has a market cap of $121.16 billion and a price-to-earnings ratio of 33.86.

Medtronic (NYSE:MDT) last announced its earnings results on Thursday, August 25th. The medical technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.02. The firm earned $7.20 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the prior year, the company posted $1.02 EPS. The firm’s revenue was down 1.0% on a year-over-year basis. Equities research analysts anticipate that Medtronic Inc. will post $4.65 EPS for the current fiscal year.

In other news, EVP Bryan C. Hanson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $87.00, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard Kuntz sold 49,905 shares of the stock in a transaction that occurred on Friday, June 3rd. The stock was 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 directly owns 127,647 shares of the company’s stock, valued at approximately $10,543,642.20. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have recently made changes to their positions in the company. Venturi Wealth Management LLC purchased a new position in shares of Medtronic during the fourth quarter valued at about $1,344,000. Bbva Compass Bancshares Inc. raised its position in shares of Medtronic by 169.8% in the fourth quarter. Bbva Compass Bancshares Inc. now owns 22,945 shares of the medical technology company’s stock valued at $1,764,000 after buying an additional 14,440 shares in the last quarter. Central Securities Corp raised its position in shares of Medtronic by 10.0% in the fourth quarter. Central Securities Corp now owns 220,000 shares of the medical technology company’s stock valued at $16,922,000 after buying an additional 20,000 shares in the last quarter. KBC Group NV raised its position in shares of Medtronic by 11.7% in the fourth quarter. KBC Group NV now owns 384,986 shares of the medical technology company’s stock valued at $29,613,000 after buying an additional 40,380 shares in the last quarter. Finally, American International Group Inc. raised its position in shares of Medtronic by 4.7% in the fourth quarter. American International Group Inc. now owns 508,973 shares of the medical technology company’s stock valued at $39,150,000 after buying an additional 22,856 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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