Medtronic, Inc. (MDT) Updates FY15 Earnings Guidance
Medtronic, Inc. (NYSE:MDT) updated its FY15 earnings guidance on Tuesday. The company provided EPS guidance of $4.00-4.10 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.03, American Banking and Market News reports.
Shares of Medtronic, Inc. (NYSE:MDT) opened at 63.47 on Tuesday. Medtronic, Inc. has a 1-year low of $51.22 and a 1-year high of $65.50. The stock’s 50-day moving average is $62.90 and its 200-day moving average is $60.4. The company has a market cap of $63.201 billion and a P/E ratio of 20.94. Medtronic also was the recipient of unusually large options trading activity on Monday. Traders purchased 7,099 put options on the company. This is an increase of 228% compared to the average volume of 2,165 put options.
Medtronic (NYSE:MDT) last released its earnings data on Tuesday, August 19th. The company reported $0.93 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.92 by $0.01. The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts expect that Medtronic, Inc. will post $4.04 EPS for the current fiscal year.
A number of research firms have recently commented on MDT. Analysts at Citigroup Inc. reiterated a buy rating on shares of Medtronic in a research note on Monday. They now have a $71.00 price target on the stock, up previously from $69.00. On a related note, analysts at Cowen and Company raised their price target on shares of Medtronic from $66.00 to $76.00 in a research note on Monday. Finally, analysts at Jefferies Group upgraded shares of Medtronic from a hold rating to a buy rating in a research note on Friday, June 20th. They now have a $75.00 price target on the stock, up previously from $60.00. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Medtronic has an average rating of Buy and a consensus price target of $68.24.
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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