Medtronic plc. (NYSE:MDT) – Equities research analysts at Leerink Swann cut their Q1 2019 earnings estimates for shares of Medtronic in a note issued to investors on Wednesday. Leerink Swann analyst D. Antalffy now expects that the medical technology company will earn $1.11 per share for the quarter, down from their previous forecast of $1.19. Leerink Swann also issued estimates for Medtronic’s Q4 2019 earnings at $1.54 EPS, FY2020 earnings at $5.72 EPS and FY2021 earnings at $6.17 EPS.
Several other equities research analysts also recently commented on the company. Citigroup reiterated a “buy” rating and issued a $93.00 price objective (down from $100.00) on shares of Medtronic in a report on Thursday. TheStreet downgraded Medtronic from a “b” rating to a “c+” rating in a report on Tuesday. Oppenheimer reiterated a “buy” rating and issued a $94.00 price objective on shares of Medtronic in a report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 14th. Finally, Morgan Stanley lifted their price objective on Medtronic from $91.00 to $95.00 and gave the stock an “equal weight” rating in a report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the stock. Medtronic has a consensus rating of “Buy” and an average target price of $90.57.
Medtronic (NYSE MDT) traded up $0.42 during midday trading on Thursday, reaching $81.14. The company had a trading volume of 2,040,061 shares, compared to its average volume of 5,657,904. Medtronic has a 52 week low of $76.51 and a 52 week high of $89.72. The company has a market cap of $109,400.00, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 2.23 and a beta of 0.93. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05.
Medtronic (NYSE:MDT) last issued its quarterly earnings results 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 12.62% 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 company earned $1.12 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis.
Hedge funds have recently bought and sold shares of the company. We Are One Seven LLC purchased a new position in shares of Medtronic during the 4th quarter valued at about $104,000. BB&T Investment Services Inc. lifted its holdings in Medtronic by 147.6% in the 4th quarter. BB&T Investment Services Inc. now owns 1,518 shares of the medical technology company’s stock worth $126,000 after purchasing an additional 905 shares in the last quarter. Blue Chip Partners Inc. purchased a new position in Medtronic in the 3rd quarter worth approximately $118,000. Quadrant Capital Group LLC lifted its holdings in Medtronic by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after purchasing an additional 290 shares in the last quarter. Finally, Westwood Holdings Group Inc. purchased a new position in Medtronic in the 2nd quarter worth approximately $151,000. 79.83% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Hooman Hakami sold 26,158 shares of Medtronic stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $85.00, for a total transaction of $2,223,430.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction dated 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 transaction, the executive vice president now directly owns 88,818 shares in the company, valued at $7,355,906.76. The disclosure for this sale can be found here. Insiders sold 120,684 shares of company stock worth $10,318,276 over the last three months. Insiders own 0.31% of the company’s stock.
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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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