Medtronic plc. (NYSE:MDT) – Research analysts at William Blair dropped their Q4 2018 earnings per share estimates for shares of Medtronic in a research note issued to investors on Tuesday. William Blair analyst K. Krum now forecasts that the medical technology company will post earnings of $1.38 per share for the quarter, down from their prior estimate of $1.40. William Blair also issued estimates for Medtronic’s Q1 2019 earnings at $1.18 EPS, Q2 2019 earnings at $1.21 EPS, Q4 2019 earnings at $1.50 EPS and FY2019 earnings at $5.18 EPS.
A number of other research analysts also recently issued reports on MDT. Cowen restated a “buy” rating and set a $95.00 target price on shares of Medtronic in a research report on Friday, November 3rd. SunTrust Banks restated a “buy” rating and set a $96.00 target price on shares of Medtronic in a research report on Friday, November 3rd. Needham & Company LLC restated a “buy” rating and set a $94.00 target price on shares of Medtronic in a research report on Thursday, November 9th. Stifel Nicolaus boosted their target price on shares of Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, November 22nd. Finally, Oppenheimer restated a “buy” rating and set a $94.00 target price on shares of Medtronic in a research report on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $90.85.
Medtronic (NYSE:MDT) traded down $0.39 during midday trading on Thursday, reaching $80.02. 2,560,078 shares of the company were exchanged, compared to its average volume of 5,644,011. The firm has a market capitalization of $108,980.00, a P/E ratio of 21.97, a PEG ratio of 2.21 and a beta of 0.93. Medtronic has a 52 week low of $76.51 and a 52 week high of $89.72. The company has a quick ratio of 2.05, a current ratio of 2.43 and a debt-to-equity ratio of 0.51.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.01. The firm had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.20 billion. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 earnings per share.
Several institutional investors have recently modified their holdings of the business. Captrust Financial Advisors purchased a new stake in Medtronic during the 2nd quarter valued at about $384,000. Chilton Investment Co. LLC grew its stake in Medtronic by 6.1% during the 2nd quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock valued at $2,382,000 after acquiring an additional 1,538 shares in the last quarter. Moors & Cabot Inc. grew its stake in Medtronic by 0.4% during the 2nd quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock valued at $3,842,000 after acquiring an additional 178 shares in the last quarter. Prudential Financial Inc. grew its stake in Medtronic by 1.6% during the 3rd quarter. Prudential Financial Inc. now owns 3,308,500 shares of the medical technology company’s stock valued at $257,302,000 after acquiring an additional 53,474 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in Medtronic by 10.7% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 475,699 shares of the medical technology company’s stock valued at $36,995,000 after acquiring an additional 45,826 shares in the last quarter. Institutional investors and hedge funds own 79.83% of the company’s stock.
In other Medtronic news, VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total value of $6,769,726.46. Following the completion of the transaction, the vice president now owns 149,761 shares in the company, valued at $12,910,895.81. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Hooman Hakami sold 26,158 shares of the company’s 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 disclosure for this sale can be found here. In the last quarter, insiders sold 120,684 shares of company stock valued at $10,318,276. 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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