Medtronic PLC (NYSE:MDT) – Investment analysts at Leerink Swann lowered their Q2 2018 EPS estimates for shares of Medtronic PLC in a research note issued on Monday. Leerink Swann analyst D. Antalffy now anticipates that the medical technology company will post earnings per share of $0.91 for the quarter, down from their previous forecast of $1.03. Leerink Swann has a “Market Perform” rating and a $85.00 price objective on the stock. Leerink Swann also issued estimates for Medtronic PLC’s FY2018 earnings at $4.65 EPS, Q2 2019 earnings at $1.08 EPS, FY2019 earnings at $5.05 EPS, FY2020 earnings at $5.45 EPS and FY2021 earnings at $5.84 EPS.

Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.08 by $0.04. The business had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 earnings per share.

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MDT has been the topic of several other reports. Deutsche Bank AG set a $96.00 target price on shares of Medtronic PLC and gave the stock a “buy” rating in a research report on Monday, July 31st. BidaskClub downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. BMO Capital Markets reissued an “outperform” rating and issued a $92.00 target price (down from $94.00) on shares of Medtronic PLC in a research report on Wednesday, August 23rd. Zacks Investment Research raised shares of Medtronic PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating on shares of Medtronic PLC in a research report on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $87.79.

Medtronic PLC (NYSE:MDT) traded up 0.78% during mid-day trading on Wednesday, hitting $77.89. 1,608,901 shares of the stock traded hands. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The stock has a 50 day moving average price of $79.78 and a 200 day moving average price of $83.30. The firm has a market cap of $105.51 billion, a PE ratio of 26.23 and a beta of 1.01.

Medtronic PLC announced that its Board of Directors has authorized a share buyback program on Friday, June 23rd that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical technology company to repurchase up to 49% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.

In other Medtronic PLC news, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of Medtronic PLC stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the sale, the chief executive officer now owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Institutional investors have recently modified their holdings 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 during the last quarter. BDO Wealth Advisors LLC acquired a new stake in shares of Medtronic PLC in the second quarter worth $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 during the last quarter. Farmers National Bank acquired a new stake in shares of Medtronic PLC in the first quarter worth $121,000. Finally, Norway Savings Bank lifted its stake in shares of Medtronic PLC by 2.7% in the second quarter. Norway Savings Bank now owns 1,427 shares of the medical technology company’s stock worth $127,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 80.63% of the company’s stock.

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.

Earnings History and Estimates for Medtronic PLC (NYSE:MDT)

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