Medtronic plc. to Post Q4 2018 Earnings of $1.40 Per Share, Leerink Swann Forecasts (MDT)

Medtronic plc. (NYSE:MDT) – Equities researchers at Leerink Swann dropped their Q4 2018 earnings per share (EPS) estimates for shares of Medtronic in a report released on Wednesday. Leerink Swann analyst D. Antalffy now expects that the medical technology company will post earnings per share of $1.40 for the quarter, down from their prior forecast of $1.41. Leerink Swann also issued estimates for Medtronic’s Q2 2019 earnings at $1.17 EPS and Q3 2019 earnings at $1.33 EPS.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.01. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The business had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter in the prior year, the firm earned $1.12 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year.

MDT has been the subject of several other research reports. Morgan Stanley increased their target price on shares of Medtronic from $91.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Monday, February 5th. Oppenheimer reiterated a “buy” rating and set a $94.00 target price on shares of Medtronic in a research note on Tuesday. TheStreet downgraded shares of Medtronic from a “b” rating to a “c+” rating in a research note on Tuesday. Cowen reiterated a “buy” rating and set a $95.00 target price on shares of Medtronic in a research note on Friday, November 3rd. Finally, Jefferies Group reiterated a “buy” rating and set a $99.00 target price on shares of Medtronic in a research note on Thursday, November 23rd. Two equities research 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 stock currently has an average rating of “Buy” and an average target price of $90.85.

Shares of Medtronic (NYSE MDT) opened at $80.39 on Friday. Medtronic has a 12 month low of $76.51 and a 12 month high of $89.72. The firm has a market cap of $108,980.00, a PE ratio of 22.09, a PEG ratio of 2.23 and a beta of 0.93. The company has a current ratio of 2.43, a quick ratio of 2.05 and a debt-to-equity ratio of 0.51.

In other Medtronic news, VP Richard Kuntz sold 78,526 shares of the 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 directly owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the completion of the transaction, the executive vice president now directly owns 88,818 shares of the company’s stock, valued at $7,355,906.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,684 shares of company stock valued at $10,318,276. 0.31% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Arcus Capital Partners LLC increased its holdings in Medtronic by 0.8% in the second quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock valued at $288,000 after buying an additional 25 shares in the last quarter. Fiera Capital Corp grew its position in shares of Medtronic by 0.5% in the second quarter. Fiera Capital Corp now owns 6,832 shares of the medical technology company’s stock valued at $606,000 after purchasing an additional 37 shares during the last quarter. Chemical Bank grew its position in shares of Medtronic by 0.4% in the second quarter. Chemical Bank now owns 11,623 shares of the medical technology company’s stock valued at $1,031,000 after purchasing an additional 46 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in shares of Medtronic by 1.0% in the second quarter. Flagship Harbor Advisors LLC now owns 4,724 shares of the medical technology company’s stock valued at $410,000 after purchasing an additional 47 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its position in shares of Medtronic by 0.3% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 28,284 shares of the medical technology company’s stock valued at $2,510,000 after purchasing an additional 72 shares during the last quarter. 79.83% of the stock is owned by institutional investors.

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About Medtronic

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 and Estimates for Medtronic (NYSE:MDT)

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