Wall Street analysts forecast that Medtronic plc. (NYSE:MDT) will announce sales of $7.97 billion for the current quarter, according to Zacks. Eleven analysts have provided estimates for Medtronic’s earnings, with estimates ranging from $7.74 billion to $8.04 billion. Medtronic posted sales of $7.92 billion in the same quarter last year, which would indicate a positive year over year growth rate of 0.6%. The firm is scheduled to issue its next quarterly earnings results on Thursday, May 24th.
On average, analysts expect that Medtronic will report full-year sales of $7.97 billion for the current fiscal year, with estimates ranging from $29.30 billion to $29.86 billion. For the next financial year, analysts expect that the firm will post sales of $31.01 billion per share, with estimates ranging from $30.27 billion to $31.33 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Medtronic.
Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.01. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. The firm had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.20 billion. During the same period last year, the business posted $1.12 EPS. Medtronic’s quarterly revenue was up 1.2% on a year-over-year basis.
Medtronic (NYSE MDT) opened at $83.30 on Tuesday. Medtronic has a one year low of $76.51 and a one year high of $89.72. The firm has a market capitalization of $112,700.00, a P/E ratio of 40.83, a P/E/G ratio of 2.36 and a beta of 0.97. The company has a quick ratio of 2.09, a current ratio of 2.43 and a debt-to-equity ratio of 0.51.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was 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 $7,355,906.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Kuntz sold 78,526 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value 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. In the last quarter, insiders have sold 145,163 shares of company stock worth $12,232,045. 0.31% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of MDT. Janus Henderson Group PLC acquired a new stake in shares of Medtronic during the third quarter worth $579,952,000. BlackRock Inc. boosted its holdings in shares of Medtronic by 6.4% during the fourth quarter. BlackRock Inc. now owns 94,595,580 shares of the medical technology company’s stock worth $7,638,592,000 after purchasing an additional 5,688,180 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Medtronic by 35.0% during the third quarter. American Century Companies Inc. now owns 9,082,452 shares of the medical technology company’s stock worth $706,342,000 after purchasing an additional 2,354,467 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Medtronic by 3,863.2% during the third quarter. Asset Management One Co. Ltd. now owns 2,064,912 shares of the medical technology company’s stock worth $160,588,000 after purchasing an additional 2,012,810 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Medtronic by 20.7% during the third quarter. Ameriprise Financial Inc. now owns 11,388,438 shares of the medical technology company’s stock worth $885,673,000 after purchasing an additional 1,954,535 shares during the last quarter. Institutional investors and hedge funds own 80.79% of the company’s stock.
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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