Traders Buy Medtronic (MDT) on Weakness

Investors purchased shares of Medtronic (NYSE:MDT) on weakness during trading on Tuesday. $172.27 million flowed into the stock on the tick-up and $43.81 million flowed out of the stock on the tick-down, for a money net flow of $128.46 million into the stock. Of all companies tracked, Medtronic had the 7th highest net in-flow for the day. Medtronic traded down ($0.65) for the day and closed at $79.37

Several research analysts recently commented on the stock. Oppenheimer set a $94.00 price target on shares of Medtronic and gave the company a “buy” rating in a report on Friday, January 19th. Morgan Stanley raised their price target on shares of Medtronic from $91.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Evercore ISI began coverage on shares of Medtronic in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $92.50 price objective on the stock. TheStreet lowered shares of Medtronic from a “b” rating to a “c+” rating in a research note on Tuesday, February 20th. Finally, Citigroup reiterated a “buy” rating and set a $93.00 price objective (down previously from $100.00) on shares of Medtronic in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. Medtronic presently has an average rating of “Buy” and a consensus target price of $91.24.

The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.09 and a current ratio of 2.43. The stock has a market capitalization of $107,575.96, a price-to-earnings ratio of 17.27, a P/E/G ratio of 2.36 and a beta of 0.94.



Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.01. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The business had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter last year, the company earned $1.12 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. research analysts anticipate that Medtronic will post 4.74 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 13th. Stockholders of record on Friday, March 23rd were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Thursday, March 22nd. Medtronic’s payout ratio is currently 40.00%.

In other Medtronic news, Director James T. Lenehan sold 1,306 shares of Medtronic stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $83.56, for a total value of $109,129.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Carol A. Surface sold 24,479 shares of Medtronic stock in a transaction on Monday, March 5th. The stock was sold at an average price of $78.18, for a total transaction of $1,913,768.22. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. We Are One Seven LLC acquired a new position in shares of Medtronic during the fourth quarter valued at $104,000. BB&T Investment Services Inc. boosted its holdings in shares of Medtronic by 147.6% during the fourth quarter. BB&T Investment Services Inc. now owns 1,518 shares of the medical technology company’s stock valued at $126,000 after acquiring an additional 905 shares during the period. Barrett Asset Management LLC boosted its holdings in shares of Medtronic by 856.0% during the fourth quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock valued at $147,000 after acquiring an additional 1,635 shares during the period. SevenBridge Financial Group LLC boosted its holdings in shares of Medtronic by 76.2% during the third quarter. SevenBridge Financial Group LLC now owns 2,197 shares of the medical technology company’s stock valued at $171,000 after acquiring an additional 950 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in shares of Medtronic by 51.2% during the fourth quarter. Proficio Capital Partners LLC now owns 2,201 shares of the medical technology company’s stock valued at $178,000 after acquiring an additional 745 shares during the period. 81.76% of the stock is owned by hedge funds and other institutional investors.

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About Medtronic

Medtronic plc manufactures and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. The company's Cardiac and Vascular Group segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; diagnostics and monitoring devices; mechanical circulatory support, TYRX, and AF products; and remote monitoring and patient-centered software.

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