Medtronic (MDT) Releases FY19 Earnings Guidance

Medtronic (NYSE:MDT) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $5.10-5.15 for the period, compared to the Thomson Reuters consensus estimate of $5.14.

Shares of Medtronic opened at $86.30 on Friday, MarketBeat Ratings reports. The company has a market capitalization of $117.90 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.40 and a beta of 0.94. The company has a quick ratio of 2.09, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. Medtronic has a one year low of $76.41 and a one year high of $89.72.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Thursday, May 24th. The medical technology company reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.03. The business had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8 billion. Medtronic had a net margin of 10.36% and a return on equity of 12.84%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.33 EPS. research analysts forecast that Medtronic will post 5.13 earnings per share for the current fiscal year.

MDT has been the subject of several research reports. Morgan Stanley increased their price objective on shares of Medtronic from $91.00 to $95.00 and gave the company an equal weight rating in a research note on Monday, February 5th. Royal Bank of Canada reissued an outperform rating and issued a $92.00 price objective on shares of Medtronic in a research note on Wednesday, February 14th. Oppenheimer reissued a buy rating and issued a $94.00 price objective on shares of Medtronic in a research note on Tuesday, February 20th. TheStreet cut shares of Medtronic from a b rating to a c+ rating in a research report on Tuesday, February 20th. Finally, Citigroup restated a buy rating and issued a $93.00 price target (down from $100.00) on shares of Medtronic in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $92.29.

In other news, Director James T. Lenehan sold 1,306 shares of the stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $83.56, for a total transaction of $109,129.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Carol A. Surface sold 24,479 shares of the 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 disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Medtronic Company Profile

Medtronic plc manufactures and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. The company's Cardiac and Vascular Group segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; diagnostics and monitoring devices; mechanical circulatory support, TYRX, and AF products; and remote monitoring and patient-centered software.

Earnings History and Estimates for Medtronic (NYSE:MDT)

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