The stock of Medtronic PLC (NYSE:MDT) is a huge mover today! About 1.26 million shares traded hands. Medtronic PLC (NYSE:MDT) has risen 10.13% since March 9, 2016 and is uptrending. It has outperformed by 2.71% the S&P500.
The move comes after 8 months positive chart setup for the $115.59 billion company. It was reported on Oct, 12 by Barchart.com. We have $114.59 PT which if reached, will make NYSE:MDT worth $42.77 billion more.
Medtronic PLC (NYSE:MDT) Ratings Coverage
Out of 17 analysts covering Medtronic (NYSE:MDT), 13 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 76% are positive. Medtronic has been the topic of 23 analyst reports since August 10, 2015 according to StockzIntelligence Inc. As per Monday, November 23, the company rating was maintained by Credit Suisse. Needham maintained Medtronic PLC (NYSE:MDT) on Friday, August 26 with “Buy” rating. The rating was maintained by Wedbush with “Neutral” on Wednesday, June 1. On Thursday, October 8 the stock rating was upgraded by Evercore to “Buy”. The company was initiated on Tuesday, September 22 by UBS. RBC Capital Markets maintained the shares of MDT in a report on Tuesday, September 29 with “Outperform” rating. Deutsche Bank maintained it with “Buy” rating and $92 target price in Thursday, June 2 report. Nomura initiated the shares of MDT in a report on Thursday, March 17 with “Buy” rating. The stock has “Buy” rating given by Needham on Tuesday, June 7. The firm earned “Outperform” rating on Monday, August 10 by Credit Suisse.
According to Zacks Investment Research, “Medtronic is the world’s leading medical technology company, pioneering device-based therapies that restore health, extend life and alleviate pain. Primary products include those for bradycardia pacing, tachyarrhythmia management, atrial fibrillation management, among others. Medtronic operates its business in one reportable segment, that of manufacturing and selling device-based medical therapies. The company does business in more than 120 countries. The company’s product lines include cardiac rhythm management, neurological and spinal, vascular and cardiac surgery.”
Insitutional Activity: The institutional sentiment decreased to 0.8 in Q2 2016. Its down 0.09, from 0.89 in 2016Q1. The ratio is negative, as 60 funds sold all Medtronic PLC shares owned while 508 reduced positions. 93 funds bought stakes while 361 increased positions. They now own 1.03 billion shares or 1.89% more from 1.01 billion shares in 2016Q1.
C M Bidwell And Limited holds 3,265 shares or 0.07% of its portfolio. Wellington Shields Ltd Liability reported 4,550 shares or 0.07% of all its holdings. Edge Wealth accumulated 11,106 shares or 0.4% of the stock. Country Trust Natl Bank accumulated 1.28% or 273,939 shares. Horrell Capital accumulated 0.01% or 200 shares. Thornburg Investment holds 604,654 shares or 0.41% of its portfolio. Old Dominion Capital Incorporated, a Virginia-based fund reported 9,502 shares. Aspen Invest Mgmt, a Michigan-based fund reported 7,261 shares. Sector Pension Board has 0.25% invested in the company for 266,513 shares. Janney Montgomery Scott Ltd Com has 109,695 shares for 0.13% of their US portfolio. Factory Mutual Communications has 1.19% invested in the company for 1.04 million shares. Deere Com holds 0.36% or 76,278 shares in its portfolio. The Alabama-based Andra Ap has invested 0.18% in Medtronic PLC (NYSE:MDT). Moreover, Barclays Public Limited Co has 0.28% invested in Medtronic PLC (NYSE:MDT) for 2.48M shares. Boston Family Office Llc, a Massachusetts-based fund reported 10,755 shares.
Another recent and important Medtronic PLC (NYSE:MDT) news was published by Seekingalpha.com which published an article titled: “Medtronic retreats 2% on lithium cluster concerns” on October 11, 2016.
MDT Company Profile
Medtronic Public Limited Company (Medtronic), incorporated on June 12, 2014, is a medical technology, services and solutions company. The Firm operates in four divisions: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group and Diabetes Group. The Cardiac and Vascular Group segment includes cardiac rhythm and heart failure, coronary and structural heart, and aortic and peripheral vascular. The Company’s Minimally Invasive Therapies Group segment includes surgical solutions, and patient monitoring and recovery. The Company’s Restorative Therapies Group segment includes spine, neuromodulation, surgical technologies and neurovascular. The Company’s Diabetes Group segment includes intensive insulin management, non-intensive diabetes therapies, and diabetes services and solutions. The Company’s subsidiaries include Medtronic, Inc. and HeartWare International, Inc.
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