Medtronic PLC (MDT) Expected to Announce Earnings of $1.17 Per Share

Brokerages expect that Medtronic PLC (NYSE:MDT) will post earnings of $1.17 per share for the current quarter, according to Zacks Investment Research. Eleven analysts have provided estimates for Medtronic’s earnings, with the highest EPS estimate coming in at $1.23 and the lowest estimate coming in at $1.15. Medtronic reported earnings of $1.12 per share during the same quarter last year, which indicates a positive year over year growth rate of 4.5%. The company is scheduled to issue its next quarterly earnings report on Tuesday, February 20th.

According to Zacks, analysts expect that Medtronic will report full-year earnings of $4.77 per share for the current financial year, with EPS estimates ranging from $4.70 to $4.81. For the next year, analysts expect that the firm will report earnings of $5.15 per share, with EPS estimates ranging from $5.07 to $5.22. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Medtronic.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the previous year, the company posted $1.12 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis.

Several research analysts recently weighed in on the stock. Oppenheimer reissued a “buy” rating and issued a $92.00 target price on shares of Medtronic in a research note on Tuesday, August 22nd. BMO Capital Markets reissued an “outperform” rating and issued a $89.00 target price (down previously from $92.00) on shares of Medtronic in a research note on Tuesday, October 10th. SunTrust Banks reissued a “buy” rating and issued a $96.00 target price on shares of Medtronic in a research note on Friday, November 3rd. Stifel Nicolaus boosted their target price on shares of Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, November 22nd. Finally, Argus raised shares of Medtronic from a “hold” rating to a “buy” rating and boosted their target price for the company from $81.27 to $95.00 in a research note on Tuesday, December 12th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $88.57.

Medtronic (NYSE:MDT) opened at $83.50 on Friday. Medtronic has a one year low of $69.35 and a one year high of $89.72. The firm has a market cap of $113,017.09, a PE ratio of 18.00, a P/E/G ratio of 2.30 and a beta of 1.00. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s payout ratio is currently 50.41%.

In other news, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC boosted its holdings in Medtronic by 7.5% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,208,053 shares of the medical technology company’s stock worth $171,720,000 after acquiring an additional 154,332 shares during the period. AXA boosted its stake in shares of Medtronic by 4.3% during the 3rd quarter. AXA now owns 702,275 shares of the medical technology company’s stock valued at $54,616,000 after buying an additional 28,709 shares during the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of Medtronic by 1.7% during the 3rd quarter. Crestwood Advisors Group LLC now owns 251,995 shares of the medical technology company’s stock valued at $19,598,000 after buying an additional 4,275 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Medtronic by 468.3% during the 3rd quarter. GSA Capital Partners LLP now owns 41,130 shares of the medical technology company’s stock valued at $3,199,000 after buying an additional 33,893 shares during the last quarter. Finally, Gofen & Glossberg LLC IL boosted its stake in shares of Medtronic by 9.2% during the 3rd quarter. Gofen & Glossberg LLC IL now owns 7,599 shares of the medical technology company’s stock valued at $591,000 after buying an additional 642 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

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Medtronic 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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Earnings History and Estimates for Medtronic (NYSE:MDT)

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