Analysts Anticipate Medtronic PLC (NYSE:MDT) Will Post Earnings of $1.18 Per Share

Analysts forecast that Medtronic PLC (NYSE:MDT) will post $1.18 earnings per share for the current quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Medtronic’s earnings, with estimates ranging from $1.18 to $1.19. Medtronic posted earnings per share of $1.17 during the same quarter last year, which suggests a positive year-over-year growth rate of 0.9%. The business is expected to report its next earnings results on Tuesday, August 20th.

On average, analysts expect that Medtronic will report full year earnings of $5.46 per share for the current financial year, with EPS estimates ranging from $5.44 to $5.48. For the next year, analysts anticipate that the business will post earnings of $5.92 per share, with EPS estimates ranging from $5.89 to $5.97. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Medtronic.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.07. Medtronic had a return on equity of 14.16% and a net margin of 15.15%. The company had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.12 billion. During the same period last year, the firm earned $1.42 earnings per share. Medtronic’s quarterly revenue was up .0% on a year-over-year basis.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Medtronic from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. Needham & Company LLC reiterated a “buy” rating and set a $121.00 target price on shares of Medtronic in a research report on Monday, May 27th. UBS Group lifted their target price on Medtronic to $112.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank of Canada cut their target price on Medtronic to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. Finally, Wells Fargo & Co upgraded Medtronic from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $100.00 to $110.00 in a research report on Tuesday, June 4th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $103.95.

In related news, EVP Hoedt Rob Ten sold 9,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $91.88, for a total value of $826,920.00. Following the transaction, the executive vice president now owns 58,785 shares in the company, valued at approximately $5,401,165.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard H. Anderson purchased 10,900 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of $92.40 per share, for a total transaction of $1,007,160.00. Following the transaction, the director now directly owns 89,912 shares in the company, valued at $8,307,868.80. The disclosure for this purchase can be found here. Insiders own 0.28% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Belpointe Asset Management LLC boosted its holdings in Medtronic by 35.3% in the 1st quarter. Belpointe Asset Management LLC now owns 4,581 shares of the medical technology company’s stock valued at $417,000 after purchasing an additional 1,196 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in Medtronic in the 1st quarter valued at approximately $75,000. Marshall Wace LLP boosted its holdings in Medtronic by 204.3% in the 1st quarter. Marshall Wace LLP now owns 112,270 shares of the medical technology company’s stock valued at $10,226,000 after purchasing an additional 75,372 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in Medtronic in the 1st quarter valued at approximately $887,000. Finally, Diversified Trust Co boosted its holdings in Medtronic by 22.1% in the 1st quarter. Diversified Trust Co now owns 117,649 shares of the medical technology company’s stock valued at $10,715,000 after purchasing an additional 21,314 shares in the last quarter. Hedge funds and other institutional investors own 80.10% of the company’s stock.

Medtronic stock traded down $0.02 during midday trading on Friday, reaching $97.48. The company’s stock had a trading volume of 44,650 shares, compared to its average volume of 5,943,347. Medtronic has a fifty-two week low of $81.66 and a fifty-two week high of $100.15. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.59 and a quick ratio of 2.15. The stock has a market cap of $130.69 billion, a PE ratio of 18.70, a P/E/G ratio of 2.51 and a beta of 0.68.

Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Earnings History and Estimates for Medtronic (NYSE:MDT)

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