Analysts Expect Medtronic plc. (MDT) Will Announce Earnings of $1.17 Per Share

Analysts expect Medtronic plc. (NYSE:MDT) to announce $1.17 earnings per share for the current fiscal quarter, Zacks reports. Eleven analysts have provided estimates for Medtronic’s earnings, with estimates ranging from $1.15 to $1.23. Medtronic reported earnings of $1.12 per share during the same quarter last year, which would indicate a positive year over year growth rate of 4.5%. The firm is expected to issue its next earnings results on Tuesday, February 20th.

On average, analysts expect that Medtronic will report full-year earnings of $4.77 per share for the current year, with EPS estimates ranging from $4.70 to $4.81. For the next fiscal year, analysts forecast that the company will post earnings of $5.16 per share, with EPS estimates ranging from $5.06 to $5.22. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow Medtronic.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period last year, the firm earned $1.12 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis.

MDT has been the topic of several recent research reports. Wells Fargo & Co cut shares of Medtronic from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $93.00 to $83.00 in a report on Monday, October 9th. Stifel Nicolaus lowered their target price on shares of Medtronic from $91.00 to $83.00 and set a “hold” rating on the stock in a report on Monday, October 9th. SunTrust Banks reaffirmed a “buy” rating and set a $96.00 target price on shares of Medtronic in a report on Friday, November 3rd. Leerink Swann reaffirmed a “market perform” rating and set a $85.00 target price (down from $88.00) on shares of Medtronic in a report on Monday, October 9th. Finally, Argus raised shares of Medtronic from a “hold” rating to a “buy” rating and raised their target price for the stock from $81.27 to $95.00 in a report on Tuesday, December 12th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $89.65.

In related news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the sale, the executive vice president now owns 88,818 shares in the company, valued at approximately $7,355,906.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard Kuntz sold 78,526 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the sale, the vice president now owns 149,761 shares in the company, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. Insiders have sold a total of 136,684 shares of company stock worth $11,582,596 in the last quarter. 0.31% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of MDT. Trust Co. of Toledo NA OH boosted its position in Medtronic by 6.4% in the second quarter. Trust Co. of Toledo NA OH now owns 11,030 shares of the medical technology company’s stock valued at $979,000 after buying an additional 664 shares in the last quarter. Fisher Asset Management LLC boosted its position in Medtronic by 2,485.0% in the second quarter. Fisher Asset Management LLC now owns 183,765 shares of the medical technology company’s stock valued at $16,309,000 after buying an additional 176,656 shares in the last quarter. Somerset Trust Co boosted its position in Medtronic by 3.8% in the second quarter. Somerset Trust Co now owns 59,523 shares of the medical technology company’s stock valued at $5,283,000 after buying an additional 2,201 shares in the last quarter. Howe & Rusling Inc. boosted its position in Medtronic by 3.4% in the second quarter. Howe & Rusling Inc. now owns 84,035 shares of the medical technology company’s stock valued at $7,458,000 after buying an additional 2,725 shares in the last quarter. Finally, Liberty Capital Management Inc. boosted its position in Medtronic by 9.5% in the second quarter. Liberty Capital Management Inc. now owns 2,311 shares of the medical technology company’s stock valued at $202,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 81.75% of the company’s stock.

Shares of Medtronic (NYSE MDT) traded down $0.58 on Friday, hitting $86.68. 7,314,676 shares of the stock traded hands, compared to its average volume of 4,930,000. Medtronic has a 12 month low of $73.59 and a 12 month high of $89.72. The company has a market capitalization of $118,110.00, a PE ratio of 23.81, a PEG ratio of 2.37 and a beta of 0.99. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.12%. Medtronic’s dividend payout ratio is 50.55%.

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About Medtronic

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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Earnings History and Estimates for Medtronic (NYSE:MDT)

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