Brokerages Anticipate Medtronic PLC (NYSE:MDT) to Announce $1.28 EPS

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Equities research analysts predict that Medtronic PLC (NYSE:MDT) will report earnings per share of $1.28 for the current quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Medtronic’s earnings, with the highest EPS estimate coming in at $1.29 and the lowest estimate coming in at $1.27. Medtronic posted earnings per share of $1.22 in the same quarter last year, which suggests a positive year over year growth rate of 4.9%. The company is expected to announce its next quarterly earnings report on Tuesday, November 19th.

According to Zacks, analysts expect that Medtronic will report full-year earnings of $5.56 per share for the current fiscal year, with EPS estimates ranging from $5.55 to $5.58. For the next year, analysts expect that the company will report earnings of $6.00 per share, with EPS estimates ranging from $5.92 to $6.05. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Medtronic.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.08. The company had revenue of $7.49 billion during the quarter, compared to the consensus estimate of $7.40 billion. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.17 earnings per share.

Several equities analysts have weighed in on the company. UBS Group raised their price objective on Medtronic from $112.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Stifel Nicolaus boosted their target price on Medtronic from $95.00 to $112.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Royal Bank of Canada set a $110.00 price target on Medtronic and gave the stock a “buy” rating in a research note on Friday, August 16th. ValuEngine cut Medtronic from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Bank of America set a $118.00 target price on Medtronic and gave the stock a “buy” rating in a report on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Medtronic presently has a consensus rating of “Buy” and an average target price of $114.15.

In other news, SVP Richard Kuntz sold 3,438 shares of Medtronic stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $101.12, for a total value of $347,650.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Carol A. Surface sold 9,000 shares of Medtronic stock in a transaction on Monday, June 17th. The shares were sold at an average price of $97.66, for a total value of $878,940.00. The disclosure for this sale can be found here. Insiders sold a total of 105,914 shares of company stock worth $11,194,591 over the last quarter. Company insiders own 0.28% of the company’s stock.

Large investors have recently made changes to their positions in the company. Krane Funds Advisors LLC purchased a new position in shares of Medtronic in the 2nd quarter valued at $25,000. River & Mercantile Asset Management LLP purchased a new position in shares of Medtronic in the 2nd quarter valued at $26,000. Redhawk Wealth Advisors Inc. purchased a new position in shares of Medtronic in the 2nd quarter valued at $34,000. Rocky Mountain Advisers LLC increased its holdings in shares of Medtronic by 100.0% in the 2nd quarter. Rocky Mountain Advisers LLC now owns 400 shares of the medical technology company’s stock valued at $39,000 after acquiring an additional 200 shares during the period. Finally, Mackey Komara & Dankovich LLC purchased a new position in shares of Medtronic in the 1st quarter valued at $38,000. Institutional investors and hedge funds own 81.19% of the company’s stock.

Shares of MDT traded up $0.01 during trading hours on Friday, reaching $110.39. The stock had a trading volume of 105,588 shares, compared to its average volume of 4,687,985. Medtronic has a 12 month low of $81.66 and a 12 month high of $111.24. The firm has a 50-day simple moving average of $104.67 and a 200 day simple moving average of $95.67. The company has a current ratio of 2.67, a quick ratio of 2.20 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $144.20 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 2.64 and a beta of 0.65.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $2.16 annualized dividend and a yield of 1.96%. Medtronic’s payout ratio is currently 41.38%.

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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