Stocks On the Move: Depomed Inc, Interpace Diagnostics Group Inc, and Medtronic PLC

U.S. stocks are modestly higher, fresh off a solid round of economic data. Among specific equities in focus today are drug stock Depomed Inc (NASDAQ:DEPO), molecular specialist Interpace Diagnostics Group Inc (NASDAQ:IDXG), and healthcare firm Medtronic PLC (NYSE:MDT). Here's a quick look at what's moving DEPO, IDXG, and MDT.

• DEPO has jumped 10.7% to trade at $19.94, essentially closing a bearish gap from mid-December. Buoying the stock is a New York Post report, claiming KKR & Co. L.P. (NYSE:KKR) is interested in buying the drugmaker. Suffice it to say, Depomed Inc short sellers could be hitting the panic button. One-quarter of the stock's total float is sold short, which would take nearly eight sessions to cover, at DEPO's average daily trading rate.

• IDXG has roughly tripled in value today at $13.15 -- after being repeatedly halted on volatility earlier -- with the company reaching an agreement with the Blue Cross Blue Shield Association's Center for Clinical Effectiveness to "support further coverage determinations." As such, the stock is on pace for its second highest settlement price in more than a year. This is bad news for a recent crop of Interpace Diagnostics Group Inc short sellers, however. While short interest is low on an absolute basis, these bearish bets soared a brow-raising 3,725% over the last two reporting periods.

• MDT is down 0.8% at $70.69 -- after earlier touching an annual low of $69.35 -- on the heels of bearish brokerage attention. Specifically, J.P. Morgan Securities and Morgan Stanley lowered their ratings to the equivalent of a "hold" from a "buy," and slashed their price targets to $79 and $77, respectively. Explaining its bearish note, the former cited the "combination of a more challenging macro environment, likely downward revisions to FY18 consensus and the uncertainty of corporate tax reform." Given Medtronic PLC's technical weakness, the stock could soon succumb to additional downbeat brokerage notes. After all, 16 of 22 analysts rate MDT shares a "buy" or better.