William Blair Weighs in on Medtronic PLC’s Q4 2018 Earnings (MDT)

Medtronic PLC (NYSE:MDT) – Equities research analysts at William Blair increased their Q4 2018 earnings estimates for Medtronic PLC in a report released on Monday. William Blair analyst K. Krum now expects that the medical technology company will post earnings per share of $1.40 for the quarter, up from their previous forecast of $1.39. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Medtronic PLC’s Q1 2019 earnings at $1.16 EPS.

Medtronic PLC (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The firm had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.44 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s revenue was up 3.1% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: “William Blair Weighs in on Medtronic PLC’s Q4 2018 Earnings (MDT)” was originally posted by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this piece on another domain, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The legal version of this piece can be accessed at https://sportsperspectives.com/2017/10/13/william-blair-weighs-in-on-medtronic-plcs-q4-2018-earnings-mdt.html.

Several other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Stifel Nicolaus decreased their price objective on shares of Medtronic PLC from $91.00 to $83.00 and set a “hold” rating for the company in a research note on Monday. Wells Fargo & Company downgraded shares of Medtronic PLC from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $93.00 to $83.00 in a research note on Monday. BMO Capital Markets reissued an “outperform” rating and issued a $92.00 price objective (down previously from $94.00) on shares of Medtronic PLC in a research note on Wednesday, August 23rd. Finally, Leerink Swann reissued a “market perform” rating and issued a $85.00 price objective (down previously from $88.00) on shares of Medtronic PLC in a research note on Monday. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $87.88.

Medtronic PLC announced that its Board of Directors has authorized a share buyback plan on Friday, June 23rd that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical technology company to repurchase up to 49% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.36%. Medtronic PLC’s payout ratio is 61.95%.

In other news, CEO Omar Ishrak sold 140,407 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the sale, the chief executive officer now directly owns 668,503 shares in the company, valued at approximately $54,569,899.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $88.57, for a total transaction of $1,062,840.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Dupont Capital Management Corp raised its holdings in shares of Medtronic PLC by 28.8% in the 2nd quarter. Dupont Capital Management Corp now owns 74,052 shares of the medical technology company’s stock valued at $6,572,000 after purchasing an additional 16,562 shares in the last quarter. RMB Capital Management LLC acquired a new stake in shares of Medtronic PLC in the 1st quarter valued at $4,576,000. Lazard Asset Management LLC raised its holdings in shares of Medtronic PLC by 1,061.4% in the 1st quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock valued at $1,101,960,000 after purchasing an additional 12,500,992 shares in the last quarter. WealthTrust Arizona LLC raised its holdings in shares of Medtronic PLC by 9.7% in the 2nd quarter. WealthTrust Arizona LLC now owns 4,994 shares of the medical technology company’s stock valued at $443,000 after purchasing an additional 441 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Medtronic PLC by 7.3% in the 1st quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock valued at $1,070,622,000 after purchasing an additional 906,581 shares in the last quarter. Institutional investors and hedge funds own 80.63% of the company’s stock.

Medtronic PLC Company Profile

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 PLC (NYSE:MDT)

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