Investors bought shares of Medtronic PLC (NYSE:MDT) on weakness during trading hours on Wednesday. $6.21 million flowed into the stock on the tick-up and $1.10 million flowed out of the stock on the tick-down, for a money net flow of $5.11 million into the stock. Of all equities tracked, Medtronic PLC had the 15th highest net in-flow for the day. Medtronic PLC traded down ($0.04) for the day and closed at $79.78

Several research analysts have recently weighed in on MDT shares. CIBC reiterated a “buy” rating on shares of Medtronic PLC in a research note on Friday, May 26th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 price target (up previously from $91.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $93.00 price target (up previously from $87.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. UBS AG reiterated a “buy” rating and set a $95.00 price target (up previously from $94.00) on shares of Medtronic PLC in a research note on Tuesday, May 30th. Finally, BidaskClub cut shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company. Medtronic PLC presently has an average rating of “Hold” and a consensus target price of $88.78.

The firm has a market cap of $108.88 billion, a PE ratio of 26.91 and a beta of 1.03. The firm has a 50 day moving average price of $82.76 and a 200-day moving average price of $83.61.

Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The business had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. Analysts anticipate that Medtronic PLC will post $4.76 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, September 28th. Medtronic PLC’s payout ratio is 61.95%.

In other Medtronic PLC news, Director Richard H. Anderson bought 5,600 shares of Medtronic PLC stock in a transaction dated Wednesday, June 21st. The stock was acquired at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the transaction, the director now directly owns 71,910 shares of the company’s stock, valued at $6,392,799. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $88.57, for a total transaction of $1,062,840.00. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of MDT. BlackRock Inc. raised its position in shares of Medtronic PLC by 2,513.4% in the first quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock valued at $7,011,571,000 after buying an additional 83,705,052 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Medtronic PLC by 1,061.4% in the first quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock valued at $1,101,960,000 after buying an additional 12,500,992 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Medtronic PLC by 4.5% in the first quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock valued at $8,243,034,000 after buying an additional 4,412,536 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Medtronic PLC by 135.5% in the second quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock valued at $538,727,000 after buying an additional 3,493,058 shares during the last quarter. Finally, Sanders Capital LLC raised its position in shares of Medtronic PLC by 43.7% in the second quarter. Sanders Capital LLC now owns 6,670,948 shares of the medical technology company’s stock valued at $651,800,000 after buying an additional 2,027,147 shares during the last quarter. Institutional investors and hedge funds own 80.52% of the company’s stock.

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Medtronic PLC Company Profile

Medtronic Public Limited Company (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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