Medtronic PLC (NYSE:MDT) – Investment analysts at Jefferies Group lowered their Q2 2017 EPS estimates for shares of Medtronic PLC in a research note issued on Wednesday. Jefferies Group analyst R. Denhoy now expects that the firm will post earnings of $1.10 per share for the quarter, down from their prior forecast of $1.14. Jefferies Group currently has a “Buy” rating and a $93.00 target price on the stock. Jefferies Group also issued estimates for Medtronic PLC’s FY2017 earnings at $4.65 EPS.

MDT has been the topic of several other reports. Needham & Company LLC increased their target price on Medtronic PLC from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, August 25th. Vetr raised Medtronic PLC from a “buy” rating to a “strong-buy” rating and set a $94.55 target price on the stock in a report on Tuesday, October 11th. Cowen and Company set a $94.00 target price on Medtronic PLC and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Credit Suisse Group AG reissued an “outperform” rating and set a $92.00 target price on shares of Medtronic PLC in a report on Thursday, August 25th. Finally, Zacks Investment Research lowered Medtronic PLC from a “buy” rating to a “hold” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $90.02.

Earnings History and Estimates for Medtronic PLC (NYSE:MDT)

Shares of Medtronic PLC (NYSE:MDT) opened at 82.07 on Friday. The company has a market capitalization of $113.42 billion, a PE ratio of 31.93 and a beta of 1.01. The firm’s 50-day moving average price is $83.91 and its 200 day moving average price is $84.69. Medtronic PLC has a one year low of $71.03 and a one year high of $89.27.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Thursday, August 25th. The medical technology company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.02. The firm earned $7.20 billion during the quarter, compared to analysts’ expectations of $7.17 billion. Medtronic PLC had a return on equity of 12.06% and a net margin of 12.70%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.02 EPS.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 21st. Shareholders of record on Thursday, September 29th were paid a $0.43 dividend. The ex-dividend date was Tuesday, September 27th. This represents a $1.72 dividend on an annualized basis and a yield of 2.10%. Medtronic PLC’s dividend payout ratio (DPR) is presently 66.93%.

In related news, CEO Omar Ishrak sold 61,925 shares of Medtronic PLC stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $84.93, for a total transaction of $5,259,290.25. Following the transaction, the chief executive officer now owns 565,916 shares of the company’s stock, valued at $48,063,245.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Bryan C. Hanson sold 15,000 shares of Medtronic PLC stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $87.00, for a total value of $1,305,000.00. Following the transaction, the executive vice president now directly owns 168,192 shares in the company, valued at approximately $14,632,704. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Medtronic PLC by 1.6% in the second quarter. Vanguard Group Inc. now owns 95,677,703 shares of the medical technology company’s stock valued at $8,301,954,000 after buying an additional 1,489,823 shares during the last quarter. FMR LLC boosted its position in shares of Medtronic PLC by 0.3% in the second quarter. FMR LLC now owns 76,043,424 shares of the medical technology company’s stock valued at $6,598,288,000 after buying an additional 264,681 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Medtronic PLC by 1.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 49,795,064 shares of the medical technology company’s stock valued at $4,320,717,000 after buying an additional 930,313 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Medtronic PLC by 0.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 36,405,337 shares of the medical technology company’s stock valued at $3,145,421,000 after buying an additional 126,685 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in shares of Medtronic PLC by 3.2% in the third quarter. BlackRock Fund Advisors now owns 21,227,474 shares of the medical technology company’s stock valued at $1,834,054,000 after buying an additional 667,198 shares during the last quarter. 83.25% of the stock is currently owned by institutional investors.

About Medtronic PLC

Medtronic plc (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.

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