Medtronic PLC (NYSE:MDT) – Wedbush cut their Q3 2017 earnings per share estimates for Medtronic PLC in a research note issued to investors on Wednesday. Wedbush analyst Levy. T now anticipates that the firm will post earnings per share of $1.11 for the quarter, down from their prior forecast of $1.12. Wedbush also issued estimates for Medtronic PLC’s Q4 2017 earnings at $1.32 EPS and FY2017 earnings at $4.57 EPS.

Medtronic PLC (NYSE:MDT) last released its 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. Medtronic PLC had a return on equity of 12.36% and a net margin of 14.63%. The firm earned $7.35 billion during the quarter, compared to the consensus estimate of $7.46 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s revenue was up 4.1% compared to the same quarter last year. WARNING: “Medtronic PLC (MDT) to Post Q3 2017 Earnings of $1.11 Per Share, Wedbush Forecasts” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this article on another site, it was illegally copied and reposted in violation of U.S. and international copyright law. The correct version of this article can be viewed at https://www.thecerbatgem.com/2016/11/26/medtronic-plc-mdt-to-post-q3-2017-earnings-of-1-11-per-share-wedbush-forecasts.html.

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

MDT has been the topic of a number of other research reports. Vetr raised Medtronic PLC from a “buy” rating to a “strong-buy” rating and set a $90.83 price target on the stock in a research report on Tuesday, November 1st. Deutsche Bank AG reaffirmed a “buy” rating on shares of Medtronic PLC in a research report on Monday, October 31st. Zacks Investment Research raised Medtronic PLC from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Wednesday, October 26th. Oppenheimer Holdings Inc. set a $94.00 price target on Medtronic PLC and gave the company a “buy” rating in a research report on Tuesday. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $92.00 price target on shares of Medtronic PLC in a research report on Thursday, August 25th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Medtronic PLC presently has a consensus rating of “Buy” and an average price target of $88.47.

Shares of Medtronic PLC (NYSE:MDT) opened at 75.52 on Thursday. The firm has a market cap of $104.36 billion, a P/E ratio of 29.39 and a beta of 1.01. Medtronic PLC has a 12-month low of $71.03 and a 12-month high of $89.27. The company’s 50 day moving average price is $81.84 and its 200-day moving average price is $84.68.

Institutional investors have recently added to or reduced their stakes in the company. Exxonmobil Investment Management Inc. TX increased its position in Medtronic PLC by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 363,984 shares of the medical technology company’s stock valued at $31,583,000 after buying an additional 21,619 shares during the last quarter. LVM Capital Management Ltd. MI bought a new position in Medtronic PLC during the second quarter valued at $217,000. Thompson Rubinstein Investment Management Inc. OR increased its position in Medtronic PLC by 1.3% in the second quarter. Thompson Rubinstein Investment Management Inc. OR now owns 50,693 shares of the medical technology company’s stock valued at $4,399,000 after buying an additional 665 shares during the last quarter. Moreno Evelyn V increased its position in Medtronic PLC by 1.3% in the second quarter. Moreno Evelyn V now owns 70,520 shares of the medical technology company’s stock valued at $6,119,000 after buying an additional 912 shares during the last quarter. Finally, Rosenbaum Jay D. increased its position in Medtronic PLC by 5.7% in the second quarter. Rosenbaum Jay D. now owns 15,225 shares of the medical technology company’s stock valued at $1,321,000 after buying an additional 815 shares during the last quarter. 81.25% of the stock is owned by institutional investors.

WARNING: “Medtronic PLC (MDT) to Post Q3 2017 Earnings of $1.11 Per Share, Wedbush Forecasts” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this article on another site, it was illegally copied and reposted in violation of U.S. and international copyright law. The correct version of this article can be viewed at https://www.thecerbatgem.com/2016/11/26/medtronic-plc-mdt-to-post-q3-2017-earnings-of-1-11-per-share-wedbush-forecasts.html.

In other Medtronic PLC 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 transaction of $5,259,290.25. Following the completion of the transaction, the chief executive officer now owns 565,916 shares of the company’s stock, valued at $48,063,245.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James T. Lenehan purchased 2,000 shares of the company’s stock in a transaction on Wednesday, November 23rd. The shares were bought at an average cost of $73.27 per share, with a total value of $146,540.00. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company’s stock.

About Medtronic PLC

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

Receive News & Stock Ratings for Medtronic PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic PLC and related stocks with our FREE daily email newsletter.