Medtronic PLC (NYSE:MDT) – Equities research analysts at Leerink Swann lifted their Q4 2018 EPS estimates for shares of Medtronic PLC in a research report issued to clients and investors on Monday. Leerink Swann analyst D. Antalffy now forecasts that the medical technology company will post earnings per share of $1.43 for the quarter, up from their prior estimate of $1.42. 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 Q1 2019 earnings at $1.16 EPS and Q4 2019 earnings at $1.53 EPS.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. The firm had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $1.03 EPS. WARNING: “Q4 2018 EPS Estimates for Medtronic PLC Boosted by Analyst (MDT)” was posted by American Banking News and is the property of of American Banking News. If you are reading this story on another publication, it was illegally copied and republished in violation of U.S. and international copyright and trademark laws. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/10/12/q4-2018-eps-estimates-for-medtronic-plc-boosted-by-analyst-mdt.html.

Several other research firms have also commented on MDT. William Blair reiterated an “outperform” rating on shares of Medtronic PLC in a research note on Thursday, July 6th. BidaskClub raised shares of Medtronic PLC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Wells Fargo & Company reissued an “outperform” rating on shares of Medtronic PLC in a research report on Wednesday, July 12th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Medtronic PLC in a research report on Tuesday, July 18th. Finally, Zacks Investment Research downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the stock. Medtronic PLC presently has a consensus rating of “Hold” and an average price target of $87.88.

Shares of Medtronic PLC (MDT) traded down 0.748% on Thursday, reaching $77.655. The company’s stock had a trading volume of 6,491,032 shares. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The company has a market cap of $105.19 billion, a PE ratio of 26.138 and a beta of 1.01. The firm has a 50 day moving average of $79.68 and a 200 day moving average of $83.27.

Large investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust boosted its holdings in Medtronic PLC by 22.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after purchasing an additional 210 shares during the period. BDO Wealth Advisors LLC bought a new position in Medtronic PLC in the 2nd quarter valued at $103,000. Motco boosted its holdings in Medtronic PLC by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after purchasing an additional 99 shares during the period. Quadrant Capital Group LLC boosted its holdings in Medtronic PLC by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after purchasing an additional 290 shares during the period. Finally, Israel Discount Bank of New York bought a new position in Medtronic PLC in the 1st quarter valued at $117,000. 80.63% of the stock is owned by hedge funds and other institutional investors.

In other Medtronic PLC news, CEO Omar Ishrak sold 140,407 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the completion of the transaction, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $88.57, for a total transaction of $1,062,840.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Medtronic PLC declared that its Board of Directors has approved a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 29th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.

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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