Equities Analysts Offer Predictions for Medtronic PLC’s Q1 2018 Earnings (NYSE:MDT)
Medtronic PLC (NYSE:MDT) – Equities research analysts at William Blair issued their Q1 2018 earnings per share estimates for shares of Medtronic PLC in a research note issued to investors on Thursday. William Blair analyst K. Krum expects that the medical technology company will post earnings per share of $1.08 for the quarter. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Medtronic PLC’s Q2 2018 earnings at $1.18 EPS, Q3 2018 earnings at $1.22 EPS, Q4 2018 earnings at $1.45 EPS and FY2018 earnings at $4.93 EPS.
A number of other equities analysts have also recently commented on the company. BidaskClub upgraded Medtronic PLC from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. BMO Capital Markets boosted their price objective on Medtronic PLC from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, May 30th. Morgan Stanley boosted their price objective on Medtronic PLC from $84.00 to $86.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 30th. Barclays PLC restated an “overweight” rating and set a $94.00 price objective (up previously from $92.00) on shares of Medtronic PLC in a report on Sunday, May 28th. Finally, Cowen and Company restated an “outperform” rating and set a $95.00 price objective (up previously from $86.00) on shares of Medtronic PLC in a report on Sunday, May 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $88.88.
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Medtronic PLC (NYSE MDT) opened at 87.96 on Monday. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The firm has a market cap of $119.54 billion, a PE ratio of 30.44 and a beta of 1.04. The company’s 50 day moving average price is $86.21 and its 200 day moving average price is $80.30.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $7.86 billion. During the same quarter in the previous year, the firm earned $1.27 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th will be given a dividend of $0.46 per share. The ex-dividend date is Wednesday, July 5th. This represents a $1.84 dividend on an annualized basis and a yield of 2.09%. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s dividend payout ratio is 63.67%.
In other news, Director Richard H. Anderson purchased 5,600 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were acquired at an average price of $88.90 per share, with a total value of $497,840.00. Following the completion of the transaction, 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 can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Advisory Research Inc. raised its position in shares of Medtronic PLC by 36.3% in the fourth quarter. Advisory Research Inc. now owns 59,108 shares of the medical technology company’s stock valued at $4,210,000 after buying an additional 15,730 shares in the last quarter. Bluestein R H & Co. raised its position in shares of Medtronic PLC by 8,759.5% in the fourth quarter. Bluestein R H & Co. now owns 261,797 shares of the medical technology company’s stock valued at $18,648,000 after buying an additional 258,842 shares in the last quarter. Smith Shellnut Wilson LLC ADV bought a new position in shares of Medtronic PLC during the fourth quarter valued at $374,000. First Allied Advisory Services Inc. raised its position in shares of Medtronic PLC by 2.9% in the fourth quarter. First Allied Advisory Services Inc. now owns 12,701 shares of the medical technology company’s stock valued at $905,000 after buying an additional 361 shares in the last quarter. Finally, Lumina Fund Management LLC bought a new position in shares of Medtronic PLC during the fourth quarter valued at $7,123,000. Hedge funds and other institutional investors own 83.08% of the company’s stock.
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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