Medtronic PLC (MDT) Issues Earnings Results, Beats Estimates By $0.08 EPS

Medtronic PLC (NYSE:MDT) posted its quarterly earnings results on Tuesday. The medical technology company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08, RTT News reports. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The company had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the previous year, the firm earned $1.12 EPS. The firm’s revenue was down 4.0% compared to the same quarter last year.

Shares of Medtronic PLC (NYSE:MDT) opened at $78.90 on Tuesday. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The firm has a market capitalization of $107,676.43, a PE ratio of 16.95, a P/E/G ratio of 2.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.40 and a current ratio of 1.64.

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Several analysts have recently issued reports on MDT shares. SunTrust Banks, Inc. set a $92.00 price objective on Medtronic PLC and gave the stock a “buy” rating in a report on Sunday. BidaskClub raised Medtronic PLC from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Jefferies Group LLC reaffirmed a “buy” rating and set a $96.00 price objective on shares of Medtronic PLC in a report on Thursday, September 28th. Zacks Investment Research cut Medtronic PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, UBS AG reaffirmed an “overweight” rating on shares of Medtronic PLC in a report on Thursday, August 24th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $87.69.

In other Medtronic PLC news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $79.02, for a total value of $1,264,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the completion of the sale, the chief executive officer now owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,407 shares of company stock valued at $13,974,223. 0.31% 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.

Earnings History for Medtronic PLC (NYSE:MDT)

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