Leerink Swann Weighs in on Medtronic PLC’s FY2018 Earnings (MDT)
Medtronic PLC (NYSE:MDT) – Stock analysts at Leerink Swann lowered their FY2018 EPS estimates for shares of Medtronic PLC in a report issued on Wednesday. Leerink Swann analyst D. Antalffy now forecasts that the medical technology company will earn $4.75 per share for the year, down from their previous estimate of $4.96. Leerink Swann also issued estimates for Medtronic PLC’s Q3 2019 earnings at $1.29 EPS.
Other research analysts have also recently issued research reports about the stock. UBS AG restated a “buy” rating and issued a $95.00 target price (up previously from $94.00) on shares of Medtronic PLC in a research report on Tuesday, May 30th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $92.00 price objective on shares of Medtronic PLC in a report on Tuesday. Zacks Investment Research cut shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Friday. Jefferies Group LLC reiterated a “buy” rating and issued a $103.00 price objective on shares of Medtronic PLC in a report on Thursday, August 3rd. Finally, BMO Capital Markets increased their price objective on shares of Medtronic PLC from $87.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, May 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company. Medtronic PLC presently has a consensus rating of “Hold” and a consensus target price of $88.93.
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Shares of Medtronic PLC (NYSE:MDT) traded up 0.21% during mid-day trading on Friday, hitting $79.41. The stock had a trading volume of 1,855,507 shares. The firm has a 50 day moving average price of $84.71 and a 200 day moving average price of $83.36. The firm has a market cap of $108.15 billion, a PE ratio of 26.73 and a beta of 1.02. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72.
Medtronic PLC (NYSE:MDT) last issued its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The firm had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The company’s revenue was up 3.1% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were given a $0.46 dividend. This is an increase from Medtronic PLC’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, July 5th. This represents a $1.84 dividend on an annualized basis and a yield of 2.32%. Medtronic PLC’s dividend payout ratio is presently 61.95%.
In other Medtronic PLC news, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard H. Anderson bought 5,600 shares of the business’s stock in a transaction on Wednesday, June 21st. The stock was bought at an average price of $88.90 per share, with a total value of $497,840.00. Following the transaction, the director now owns 71,910 shares in the company, valued at $6,392,799. The disclosure for this purchase can be found here. 0.25% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. WealthTrust Arizona LLC increased its stake in Medtronic PLC by 9.7% in the second quarter. WealthTrust Arizona LLC now owns 4,994 shares of the medical technology company’s stock worth $443,000 after buying an additional 441 shares during the last quarter. Smith Salley & Associates increased its position in Medtronic PLC by 2.5% in the first quarter. Smith Salley & Associates now owns 5,853 shares of the medical technology company’s stock worth $472,000 after buying an additional 141 shares in the last quarter. Intrust Bank NA increased its position in Medtronic PLC by 2.6% in the first quarter. Intrust Bank NA now owns 10,688 shares of the medical technology company’s stock worth $861,000 after buying an additional 272 shares in the last quarter. High Pointe Capital Management LLC acquired a new position in Medtronic PLC during the first quarter worth $854,000. Finally, Shine Investment Advisory Services Inc. acquired a new position in Medtronic PLC during the first quarter worth $244,000. Institutional investors own 83.54% 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.
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