Medtronic PLC (NYSE:MDT) – Research analysts at Oppenheimer lowered their FY2021 earnings per share estimates for Medtronic in a note issued to investors on Monday, March 18th. Oppenheimer analyst S. Lichtman now forecasts that the medical technology company will post earnings of $5.93 per share for the year, down from their previous estimate of $5.95. Oppenheimer currently has a “Buy” rating and a $104.00 target price on the stock.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.05. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same period last year, the firm posted $1.17 EPS. Medtronic’s revenue for the quarter was up 2.4% on a year-over-year basis.

Several other research analysts also recently issued reports on the stock. Northland Securities reissued a “hold” rating and set a $84.00 price objective on shares of Medtronic in a research report on Monday. Citigroup raised their price objective on shares of Medtronic from $95.00 to $101.00 and gave the stock a “neutral” rating in a research report on Monday, February 25th. Barclays restated a “buy” rating and issued a $104.00 target price on shares of Medtronic in a research note on Wednesday, February 20th. Needham & Company LLC restated a “strong-buy” rating and issued a $117.00 target price (down previously from $120.00) on shares of Medtronic in a research note on Monday, February 4th. Finally, BTIG Research upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Tuesday, January 15th. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Medtronic has an average rating of “Buy” and a consensus price target of $103.43.

Shares of Medtronic stock opened at $91.72 on Wednesday. Medtronic has a 1 year low of $76.41 and a 1 year high of $100.15. The company has a current ratio of 2.36, a quick ratio of 1.92 and a debt-to-equity ratio of 0.47. The firm has a market cap of $124.27 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 2.39 and a beta of 0.82.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is 41.93%.

In related news, CEO Omar Ishrak acquired 12,000 shares of Medtronic stock in a transaction that occurred on Wednesday, January 9th. The stock was purchased at an average price of $84.05 per share, for a total transaction of $1,008,600.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Karen L. Parkhill acquired 3,000 shares of Medtronic stock in a transaction that occurred on Wednesday, January 9th. The stock was bought at an average price of $83.87 per share, with a total value of $251,610.00. The disclosure for this purchase can be found here. 0.28% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in MDT. Tributary Capital Management LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at about $27,000. Pin Oak Investment Advisors Inc. lifted its stake in shares of Medtronic by 158.0% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock valued at $34,000 after purchasing an additional 226 shares during the period. Highwater Wealth Management LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at about $39,000. IMS Capital Management acquired a new stake in shares of Medtronic in the third quarter valued at about $41,000. Finally, Capital Financial Planning LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 80.59% of the company’s stock.

Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Earnings History and Estimates for Medtronic (NYSE:MDT)

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