Traders Sell Medtronic (MDT) on Strength (MDT)

Investors sold shares of Medtronic PLC (NYSE:MDT) on strength during trading hours on Wednesday. $47.72 million flowed into the stock on the tick-up and $126.14 million flowed out of the stock on the tick-down, for a money net flow of $78.42 million out of the stock. Of all stocks tracked, Medtronic had the 14th highest net out-flow for the day. Medtronic traded up $0.58 for the day and closed at $81.50

Several equities analysts have commented on the stock. SunTrust Banks reissued a “buy” rating and issued a $96.00 price target on shares of Medtronic in a research report on Monday, October 2nd. BidaskClub raised shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Jefferies Group reissued a “buy” rating and issued a $96.00 price target on shares of Medtronic in a research report on Thursday, September 28th. Northland Securities reissued a “hold” rating and issued a $80.00 price target on shares of Medtronic in a research report on Wednesday, November 22nd. Finally, Oppenheimer reissued a “buy” rating and issued a $94.00 price target on shares of Medtronic in a research report on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $88.02.

The firm has a market cap of $108,103.88, a PE ratio of 17.21, a PEG ratio of 2.20 and a beta of 1.00. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 EPS. sell-side analysts anticipate that Medtronic PLC will post 4.77 EPS for the current fiscal year.

In other news, CEO Omar Ishrak sold 140,407 shares of Medtronic stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the sale, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction on Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 172,407 shares of company stock valued at $13,974,223. Corporate insiders own 0.31% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MDT. BlackRock Inc. raised its stake in Medtronic by 2,513.4% during the 1st quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock worth $7,011,571,000 after acquiring an additional 83,705,052 shares in the last quarter. Lazard Asset Management LLC raised its stake in Medtronic by 1,061.4% during the 1st quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock worth $1,101,960,000 after acquiring an additional 12,500,992 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Medtronic during the 3rd quarter worth $579,952,000. Vanguard Group Inc. raised its stake in Medtronic by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock worth $8,243,034,000 after acquiring an additional 4,412,536 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in Medtronic by 135.5% during the 2nd quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock worth $538,727,000 after acquiring an additional 3,493,058 shares in the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.

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About Medtronic

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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