Medtronic PLC (NYSE:MDT) – Stock analysts at Jefferies Group decreased their Q3 2017 earnings estimates for shares of Medtronic PLC in a research report issued to clients and investors on Wednesday. Jefferies Group analyst R. Denhoy now anticipates that the firm will earn $1.11 per share for the quarter, down from their previous estimate of $1.15. Jefferies Group currently has a “Buy” rating and a $88.00 price target on the stock. Jefferies Group also issued estimates for Medtronic PLC’s Q4 2017 earnings at $1.31 EPS, FY2017 earnings at $4.56 EPS, Q1 2018 earnings at $1.17 EPS, Q2 2018 earnings at $1.26 EPS, Q3 2018 earnings at $1.24 EPS, Q4 2018 earnings at $1.41 EPS, FY2018 earnings at $5.08 EPS, FY2019 earnings at $5.60 EPS and FY2020 earnings at $6.16 EPS.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.01. The business had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.46 billion. Medtronic PLC had a return on equity of 12.36% and a net margin of 14.63%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 EPS.

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

Other equities analysts have also issued research reports about the company. Barclays PLC dropped their price objective on Medtronic PLC from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday. Oppenheimer Holdings Inc. dropped their price objective on Medtronic PLC from $94.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday. Vetr lowered Medtronic PLC from a “strong-buy” rating to a “buy” rating and set a $91.28 price objective for the company. in a research note on Monday, November 21st. Needham & Company LLC upped their price objective on Medtronic PLC from $93.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, August 25th. Finally, Stifel Nicolaus dropped their price objective on Medtronic PLC from $91.00 to $81.00 and set a “hold” rating for the company in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $88.47.

Medtronic PLC (NYSE:MDT) opened at 75.52 on Thursday. The firm has a 50-day moving average price of $81.84 and a 200-day moving average price of $84.68. The stock has a market capitalization of $104.36 billion, a PE ratio of 29.39 and a beta of 1.01. Medtronic PLC has a 52 week low of $71.03 and a 52 week high of $89.27.

Several hedge funds have recently bought and sold shares of MDT. Beach Investment Counsel Inc. PA boosted its stake in Medtronic PLC by 2.0% in the second quarter. Beach Investment Counsel Inc. PA now owns 282,436 shares of the medical technology company’s stock worth $24,507,000 after buying an additional 5,510 shares during the last quarter. Huntington National Bank boosted its stake in Medtronic PLC by 10.9% in the second quarter. Huntington National Bank now owns 227,847 shares of the medical technology company’s stock worth $19,769,000 after buying an additional 22,309 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Medtronic PLC by 5.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 123,450 shares of the medical technology company’s stock worth $10,713,000 after buying an additional 5,980 shares during the last quarter. Clarkston Capital Partners LLC boosted its stake in Medtronic PLC by 3.3% in the second quarter. Clarkston Capital Partners LLC now owns 120,828 shares of the medical technology company’s stock worth $10,484,000 after buying an additional 3,840 shares during the last quarter. Finally, Montag & Caldwell LLC boosted its stake in Medtronic PLC by 16.3% in the second quarter. Montag & Caldwell LLC now owns 2,318,700 shares of the medical technology company’s stock worth $201,194,000 after buying an additional 324,802 shares during the last quarter. 81.25% of the stock is owned by hedge funds and other institutional investors.

WARNING: “Medtronic PLC (MDT) Forecasted to Post Q3 2017 Earnings of $1.11 Per Share” was originally reported by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US & international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2016/11/26/medtronic-plc-mdt-forecasted-to-post-q3-2017-earnings-of-1-11-per-share.html.

In other news, CEO Omar Ishrak sold 61,925 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $84.93, for a total value of $5,259,290.25. Following the completion of the sale, the chief executive officer now owns 565,916 shares of the company’s stock, valued at approximately $48,063,245.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Kuntz sold 25,199 shares of the firm’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $86.67, for a total value of $2,183,997.33. Following the completion of the sale, the vice president now directly owns 149,425 shares of the company’s stock, valued at approximately $12,950,664.75. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

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.

5 Day Chart for NYSE:MDT

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