Medtronic (MDT) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Medtronic (NYSE:MDT) announced its earnings results on Tuesday. The company reported $0.93 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.92 by $0.01, Analyst RN reports. The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.25 billion.
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 the ratings front, 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 analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $68.24.
Medtronic (NYSE:MDT) opened at 63.47 on Tuesday. Medtronic has a 1-year low of $51.22 and a 1-year high of $65.50. The stock has a 50-day moving average of $62.90 and a 200-day moving average of $60.4. The company has a market cap of $63.201 billion and a P/E ratio of 20.94. Medtronic also saw some unusual options trading activity on Monday. Traders bought 7,099 put options on the stock. This is an increase of 228% compared to the typical daily volume of 2,165 put options.
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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