Analysts forecast that Medtronic PLC (NYSE:MDT) will announce earnings of $1.08 per share for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Medtronic PLC’s earnings, with estimates ranging from $1.07 to $1.09. Medtronic PLC reported earnings per share of $1.03 in the same quarter last year, which suggests a positive year-over-year growth rate of 4.9%. The business is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, August 22nd.

On average, analysts expect that Medtronic PLC will report full year earnings of $4.95 per share for the current year, with EPS estimates ranging from $4.90 to $4.97. For the next fiscal year, analysts forecast that the company will report earnings of $5.38 per share, with EPS estimates ranging from $5.29 to $5.65. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Medtronic PLC.

Medtronic PLC (NYSE:MDT) last issued its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The business had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.86 billion. During the same period in the prior year, the business posted $1.27 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year.

A number of equities research analysts have recently commented on MDT shares. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Medtronic PLC in a report on Tuesday, April 18th. Royal Bank Of Canada reissued a “buy” rating and set a $85.00 price target on shares of Medtronic PLC in a report on Tuesday, April 18th. Needham & Company LLC reissued a “buy” rating and set a $91.00 price target on shares of Medtronic PLC in a report on Monday, March 27th. CIBC reissued a “buy” rating on shares of Medtronic PLC in a report on Friday, May 26th. Finally, Morgan Stanley increased their price target on shares of Medtronic PLC from $84.00 to $86.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $88.88.

In other Medtronic PLC news, Director Richard H. Anderson purchased 5,600 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The stock was acquired at an average cost of $88.90 per share, with a total value of $497,840.00. Following the acquisition, the director now owns 71,910 shares of the company’s stock, valued at approximately $6,392,799. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Medtronic PLC by 2,513.4% in the first quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock worth $7,011,571,000 after buying an additional 83,705,052 shares during the last quarter. Lazard Asset Management LLC raised its position in Medtronic PLC by 1,061.4% in the first quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock worth $1,101,960,000 after buying an additional 12,500,992 shares during the last quarter. Dodge & Cox purchased a new position in Medtronic PLC during the fourth quarter worth about $761,351,000. Norges Bank purchased a new position in Medtronic PLC during the fourth quarter worth about $757,324,000. Finally, Vanguard Group Inc. raised its position in Medtronic PLC by 4.5% in the first quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock worth $8,243,034,000 after buying an additional 4,412,536 shares during the last quarter. 82.48% of the stock is owned by institutional investors and hedge funds.

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Shares of Medtronic PLC (MDT) traded down 0.02% during midday trading on Friday, hitting $89.07. The stock had a trading volume of 932,636 shares. The firm has a market cap of $121.94 billion, a price-to-earnings ratio of 30.82 and a beta of 1.04. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.52. The firm’s 50 day moving average price is $85.16 and its 200 day moving average price is $79.55.

About Medtronic PLC

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

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