$1.07 EPS Expected for Medtronic PLC (MDT) This Quarter
Wall Street analysts predict that Medtronic PLC (NYSE:MDT) will announce $1.07 earnings per share for the current fiscal quarter, Zacks reports. Ten analysts have provided estimates for Medtronic PLC’s earnings. The highest EPS estimate is $1.14 and the lowest is $1.03. Medtronic PLC posted earnings of $1.12 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 4.5%. The firm is scheduled to issue its next earnings report on Tuesday, November 28th.
According to Zacks, analysts expect that Medtronic PLC will report full year earnings of $4.77 per share for the current year, with EPS estimates ranging from $4.73 to $4.79. For the next financial year, analysts forecast that the company will post earnings of $5.15 per share, with EPS estimates ranging from $5.00 to $5.26. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Medtronic PLC.
Medtronic PLC (NYSE:MDT) last released its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The company had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.44 billion. During the same quarter in the previous year, the company earned $1.03 EPS. Medtronic PLC’s revenue for the quarter was up 3.1% on a year-over-year basis.
A number of research firms have recently weighed in on MDT. William Blair reiterated an “outperform” rating on shares of Medtronic PLC in a research note on Thursday, July 6th. BidaskClub upgraded shares of Medtronic PLC from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Wells Fargo & Company reiterated an “outperform” rating on shares of Medtronic PLC in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Medtronic PLC in a research note on Tuesday, July 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price objective (up previously from $91.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. Medtronic PLC currently has a consensus rating of “Hold” and an average target price of $88.78.
In other news, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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, for a total transaction of $497,840.00. Following the completion of the purchase, the director now owns 71,910 shares of the company’s stock, valued at approximately $6,392,799. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.
Large investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its stake in shares of Medtronic PLC by 22.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after buying an additional 210 shares in the last quarter. BDO Wealth Advisors LLC purchased a new position in shares of Medtronic PLC in the second quarter worth about $103,000. Motco lifted its stake in shares of Medtronic PLC by 8.7% in the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after buying an additional 99 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Medtronic PLC by 21.5% in the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after buying an additional 290 shares in the last quarter. Finally, Israel Discount Bank of New York purchased a new position in shares of Medtronic PLC in the first quarter worth about $117,000. 80.75% of the stock is currently owned by hedge funds and other institutional investors.
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Medtronic PLC (NYSE:MDT) opened at 81.93 on Thursday. The company’s 50 day moving average is $82.48 and its 200-day moving average is $83.66. The stock has a market cap of $110.98 billion, a PE ratio of 27.58 and a beta of 1.03. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Thursday, September 28th. Medtronic PLC’s dividend payout ratio is currently 61.95%.
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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