Medtronic (MDT) Set to Announce Earnings on Tuesday

Medtronic (NYSE:MDT) will post its quarterly earnings results before the market opens on Tuesday, February 20th. Analysts expect Medtronic to post earnings of $1.17 per share for the quarter.

Medtronic (NYSE:MDT) last issued its quarterly 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. The company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 EPS. On average, analysts expect Medtronic to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Medtronic (NYSE:MDT) opened at $80.24 on Tuesday. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $107,580.00, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 2.19 and a beta of 0.93. Medtronic has a 1 year low of $76.15 and a 1 year high of $89.72.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, December 28th. Medtronic’s dividend payout ratio is currently 50.55%.

Several research analysts have commented on the company. Morgan Stanley lifted their price target on Medtronic from $91.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, February 5th. Oppenheimer set a $94.00 price objective on Medtronic and gave the company a “buy” rating in a research report on Friday, January 19th. Evercore ISI assumed coverage on Medtronic in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $92.50 price objective on the stock. Bank of America upgraded Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Finally, Argus upgraded Medtronic from a “hold” rating to a “buy” rating and boosted their price objective for the company from $81.27 to $95.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $90.10.

In related news, EVP Hooman Hakami sold 26,158 shares of the business’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $85.00, for a total value of $2,223,430.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $82.82, for a total value of $1,325,120.00. Following the completion of the sale, the executive vice president now directly owns 88,818 shares in the company, valued at approximately $7,355,906.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,684 shares of company stock worth $11,582,596. 0.31% of the stock is owned by insiders.

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Medtronic 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 for Medtronic (NYSE:MDT)

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