William Blair Comments on Medtronic PLC’s FY2017 Earnings (MDT)
Medtronic PLC (NYSE:MDT) – Equities research analysts at William Blair cut their FY2017 earnings per share (EPS) estimates for Medtronic PLC in a report released on Wednesday. William Blair analyst B. Andrew now forecasts that the brokerage will earn $4.58 per share for the year, down from their prior forecast of $4.69. William Blair also issued estimates for Medtronic PLC’s Q1 2018 earnings at $1.26 EPS.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. Medtronic PLC had a return on equity of 12.36% and a net margin of 14.63%. The business had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.46 billion. During the same period in the prior year, the business earned $1.03 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: This report was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another site, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The legal version of this report can be viewed at https://www.thecerbatgem.com/2016/11/26/william-blair-comments-on-medtronic-plcs-fy2017-earnings-mdt.html.
A number of other research analysts have also recently issued reports on the company. Needham & Company LLC raised their price objective on Medtronic PLC from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, August 25th. Vetr cut Medtronic PLC from a “strong-buy” rating to a “buy” rating and set a $91.28 price objective on the stock. in a research note on Monday, November 21st. Jefferies Group reaffirmed a “buy” rating and set a $93.00 price objective on shares of Medtronic PLC in a research note on Thursday, August 25th. Stifel Nicolaus reduced their price objective on Medtronic PLC from $91.00 to $81.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, Cowen and Company set a $94.00 price objective on Medtronic PLC and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Medtronic PLC currently has an average rating of “Buy” and an average target price of $88.47.
Medtronic PLC (NYSE:MDT) opened at 75.52 on Thursday. The company’s 50-day moving average price is $81.84 and its 200-day moving average price is $84.68. The firm has a market capitalization of $104.36 billion, a P/E ratio of 29.39 and a beta of 1.01. Medtronic PLC has a 1-year low of $71.03 and a 1-year high of $89.27.
A number of large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company acquired a new stake in shares of Medtronic PLC during the third quarter worth about $429,674,000. Emerald Acquisition Ltd. acquired a new stake in shares of Medtronic PLC during the second quarter worth about $363,065,000. Janus Capital Management LLC increased its stake in shares of Medtronic PLC by 356.8% in the second quarter. Janus Capital Management LLC now owns 4,004,962 shares of the medical technology company’s stock worth $347,508,000 after buying an additional 3,128,250 shares during the last quarter. Standard Life Investments LTD increased its stake in shares of Medtronic PLC by 4,597.8% in the second quarter. Standard Life Investments LTD now owns 2,419,371 shares of the medical technology company’s stock worth $209,954,000 after buying an additional 2,367,871 shares during the last quarter. Finally, Tesco Pension Investment Ltd acquired a new stake in shares of Medtronic PLC during the third quarter worth about $198,656,000. 81.25% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: This report was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another site, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The legal version of this report can be viewed at https://www.thecerbatgem.com/2016/11/26/william-blair-comments-on-medtronic-plcs-fy2017-earnings-mdt.html.
In related news, Director James T. Lenehan bought 2,000 shares of the business’s stock in a transaction on Wednesday, November 23rd. The stock was acquired at an average price of $73.27 per share, with a total value of $146,540.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Bryan C. Hanson sold 15,000 shares of Medtronic PLC stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $87.00, for a total transaction of $1,305,000.00. Following the completion of the sale, the executive vice president now directly owns 168,192 shares of the company’s stock, valued at approximately $14,632,704. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company 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.
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