Medtronic PLC (NYSE:MDT) Set to Announce Quarterly Earnings on Tuesday
Medtronic PLC (NYSE:MDT) is set to issue its quarterly earnings data before the market opens on Tuesday, August 22nd. Analysts expect the company to announce earnings of $1.08 per share for the quarter.
Medtronic PLC (NYSE:MDT) last issued its earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. The company had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.86 billion. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. On average, analysts expect Medtronic PLC to post $4.81 EPS for the current fiscal year and $5.27 EPS for the next fiscal year.
Medtronic PLC (NYSE MDT) opened at 84.47 on Tuesday. The stock has a 50 day moving average price of $86.04 and a 200-day moving average price of $83.07. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The firm has a market cap of $114.80 billion, a P/E ratio of 29.23 and a beta of 1.02.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Wednesday, July 5th. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s payout ratio is 63.67%.
In other Medtronic PLC news, Director Richard H. Anderson bought 5,600 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The shares were 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 $6,392,799. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bryan C. Hanson sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $88.57, for a total value of $1,062,840.00. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.
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MDT has been the topic of several recent analyst reports. BidaskClub upgraded Medtronic PLC from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Cowen and Company reiterated 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. CIBC reiterated a “buy” rating on shares of Medtronic PLC in a report on Friday, May 26th. Jefferies Group LLC reiterated a “buy” rating and set a $103.00 price objective on shares of Medtronic PLC in a report on Thursday, August 3rd. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on Medtronic PLC in a report on Tuesday, May 16th. They set a “neutral” rating and a $87.00 price objective on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $89.84.
Medtronic PLC Company Profile
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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