Medtronic (MDT) Posts Quarterly Earnings, Hits Estimates
Medtronic (NYSE:MDT) announced its earnings results on Tuesday. The company reported $0.91 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.91, American Banking News reports. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.15 billion.
MDT has been the subject of a number of recent research reports. Analysts at Barclays raised their price target on shares of Medtronic from $62.00 to $64.00 in a research note on Thursday, January 9th. They now have an “equal weight” rating on the stock. On the ratings front, analysts at BTIG Research initiated coverage on shares of Medtronic in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Medtronic from $62.00 to $64.00 in a research note on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Medtronic currently has an average rating of “Buy” and a consensus target price of $61.06.
Shares of Medtronic (NYSE:MDT) opened at 56.88 on Tuesday. Medtronic has a 1-year low of $43.51 and a 1-year high of $60.93. The stock’s 50-day moving average is $57.57 and its 200-day moving average is $55.97. The company has a market cap of $56.786 billion and a P/E ratio of 15.13.
The company also recently announced a quarterly dividend, which is scheduled for Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Wednesday, April 2nd.
Medtronic, Inc (NYSE:MDT) is engaged in medical technology – alleviating pain, restoring health, and extending life for millions of people worldwide.
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