Medtronic PLC (NYSE:MDT) – Oppenheimer decreased their Q4 2018 earnings per share (EPS) estimates for Medtronic in a research note issued to investors on Wednesday, according to Zacks Investment Research. Oppenheimer analyst S. Lichtman now anticipates that the medical technology company will post earnings per share of $1.41 for the quarter, down from their prior forecast of $1.43. Oppenheimer has a “Buy” rating and a $94.00 price objective on the stock.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The firm had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period in the prior year, the firm posted $1.12 EPS. The company’s revenue for the quarter was down 4.0% on a year-over-year basis.
Other research analysts have also issued reports about the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $89.00 price objective (down from $92.00) on shares of Medtronic in a report on Tuesday, October 10th. SunTrust Banks reaffirmed a “buy” rating and issued a $96.00 price objective on shares of Medtronic in a report on Friday, November 3rd. Stifel Nicolaus upped their price objective on Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, November 22nd. Needham & Company LLC decreased their price objective on Medtronic from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Tuesday, October 10th. Finally, Jefferies Group reiterated a “buy” rating and set a $96.00 target price on shares of Medtronic in a research report on Thursday, September 28th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Medtronic currently has a consensus rating of “Hold” and a consensus target price of $88.02.
Shares of Medtronic (MDT) traded down $0.86 during midday trading on Thursday, reaching $81.27. The company’s stock had a trading volume of 5,993,000 shares, compared to its average volume of 4,941,329. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50. Medtronic has a 52-week low of $69.35 and a 52-week high of $89.72. The firm has a market cap of $110,006.42, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 2.24 and a beta of 1.00.
Several hedge funds have recently made changes to their positions in the stock. Hudock Capital Group LLC raised its position in Medtronic by 0.5% in the second quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock valued at $194,000 after purchasing an additional 11 shares during the last quarter. Bollard Group LLC raised its position in Medtronic by 0.4% in the second quarter. Bollard Group LLC now owns 3,651 shares of the medical technology company’s stock valued at $324,000 after purchasing an additional 14 shares during the last quarter. Triangle Securities Wealth Management raised its position in Medtronic by 0.3% in the second quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock valued at $390,000 after purchasing an additional 15 shares during the last quarter. IFC Holdings Incorporated FL raised its position in Medtronic by 0.3% in the second quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock valued at $501,000 after purchasing an additional 17 shares during the last quarter. Finally, North Star Investment Management Corp. raised its position in Medtronic by 1.1% in the second quarter. North Star Investment Management Corp. now owns 1,995 shares of the medical technology company’s stock valued at $177,000 after purchasing an additional 22 shares during the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.
In related news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $81.63, for a total value of $11,461,423.41. Following 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. Over the last 90 days, insiders have sold 172,407 shares of company stock valued at $13,974,223. 0.31% of the stock is owned by corporate insiders.
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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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