Medtronic plc. (NYSE:MDT) – Stock analysts at Leerink Swann reduced their FY2018 earnings per share estimates for Medtronic in a research report issued on Wednesday. Leerink Swann analyst D. Antalffy now anticipates that the medical technology company will post earnings per share of $4.73 for the year, down from their previous estimate of $4.75. Leerink Swann also issued estimates for Medtronic’s Q4 2018 earnings at $1.38 EPS.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.01. The business had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.20 billion. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. Medtronic’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $1.12 earnings per share.
Several other brokerages also recently issued reports on MDT. Oppenheimer set a $94.00 price objective on shares of Medtronic and gave the stock a “buy” rating in a research note on Friday, January 19th. Morgan Stanley raised their price objective 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. Evercore ISI began coverage on shares of Medtronic in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 price objective on the stock. BMO Capital Markets raised their price objective on shares of Medtronic to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 12th. Finally, Argus upgraded shares of Medtronic from a “hold” rating to a “buy” rating and raised their price objective for the stock from $81.27 to $95.00 in a research note on Tuesday, December 12th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $91.50.
Shares of Medtronic stock opened at $76.55 on Thursday. The stock has a market cap of $108,484.06, a price-to-earnings ratio of 37.71, a PEG ratio of 2.27 and a beta of 0.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.43 and a quick ratio of 2.09. Medtronic has a 52 week low of $76.41 and a 52 week high of $89.72.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Arcus Capital Partners LLC lifted its holdings in shares of Medtronic by 0.8% during the second quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock valued at $288,000 after acquiring an additional 25 shares during the period. Gofen & Glossberg LLC IL lifted its holdings in shares of Medtronic by 1.5% during the second quarter. Gofen & Glossberg LLC IL now owns 6,957 shares of the medical technology company’s stock valued at $617,000 after acquiring an additional 100 shares during the period. Kingfisher Capital LLC lifted its holdings in shares of Medtronic by 1.3% during the second quarter. Kingfisher Capital LLC now owns 11,078 shares of the medical technology company’s stock valued at $983,000 after acquiring an additional 146 shares during the period. Moors & Cabot Inc. lifted its holdings in shares of Medtronic by 0.4% during the second 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 during the period. Finally, Westside Investment Management Inc. lifted its holdings in shares of Medtronic by 1.5% during the second quarter. Westside Investment Management Inc. now owns 13,681 shares of the medical technology company’s stock valued at $1,193,000 after acquiring an additional 205 shares during the period. 81.19% of the stock is owned by institutional investors.
In other Medtronic news, SVP Carol A. Surface sold 24,479 shares of Medtronic stock in a transaction on Monday, March 5th. The stock was sold at an average price of $78.18, for a total transaction of $1,913,768.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard Kuntz sold 78,526 shares of Medtronic stock in a transaction on 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 transaction, the vice president now directly owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The disclosure for this sale can be found here. Insiders have sold 130,469 shares of company stock worth $11,016,054 in the last quarter. Corporate insiders own 0.31% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 23rd will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 2.40%. Medtronic’s dividend payout ratio is currently 90.64%.
TRADEMARK VIOLATION WARNING: This piece was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://www.dispatchtribunal.com/2018/03/24/leerink-swann-weighs-in-on-medtronic-plc-s-fy2018-earnings-mdt.html.
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.
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.