Traders sold shares of Medtronic plc. (NYSE:MDT) on strength during trading hours on Monday. $63.16 million flowed into the stock on the tick-up and $195.30 million flowed out of the stock on the tick-down, for a money net flow of $132.14 million out of the stock. Of all stocks tracked, Medtronic had the 6th highest net out-flow for the day. Medtronic traded up $0.37 for the day and closed at $83.31
Several analysts have recently commented on MDT shares. SunTrust Banks reaffirmed a “buy” rating and issued a $96.00 target price on shares of Medtronic in a research report on Friday, November 3rd. Bank of America raised Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Argus raised Medtronic from a “hold” rating to a “buy” rating and raised their target price for the stock from $81.27 to $95.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a research report on Thursday, December 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $94.00 target price on shares of Medtronic in a research report on Thursday, November 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. Medtronic presently has a consensus rating of “Buy” and an average target price of $90.45.
The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50. The firm has a market cap of $112,760.00, a price-to-earnings ratio of 22.89, a PEG ratio of 2.29 and a beta of 0.93.
In other Medtronic news, EVP Hooman Hakami sold 26,158 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $85.00, for a total transaction of $2,223,430.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Richard Kuntz sold 78,526 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total value of $6,769,726.46. Following the transaction, the vice president now owns 149,761 shares in the company, valued at $12,910,895.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 120,684 shares of company stock worth $10,318,276. Corporate insiders own 0.31% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC bought a new position in shares of Medtronic in the third quarter worth about $579,952,000. Lazard Asset Management LLC increased its stake in shares of Medtronic by 43.8% in the second quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after purchasing an additional 5,991,094 shares during the period. BlackRock Inc. increased its stake in shares of Medtronic by 6.4% in the fourth quarter. BlackRock Inc. now owns 94,595,580 shares of the medical technology company’s stock worth $7,638,592,000 after purchasing an additional 5,688,180 shares during the period. Alliancebernstein L.P. increased its stake in shares of Medtronic by 135.5% in the second quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock worth $538,727,000 after purchasing an additional 3,493,058 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Medtronic by 2.4% in the second quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after purchasing an additional 2,454,380 shares during the period. Institutional investors own 79.83% of the company’s stock.
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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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