Oppenheimer Holdings Comments on Medtronic PLC’s Q2 2018 Earnings (MDT)

Medtronic PLC (NYSE:MDT) – Investment analysts at Oppenheimer Holdings reduced their Q2 2018 earnings per share (EPS) estimates for shares of Medtronic PLC in a report released on Monday. Oppenheimer Holdings analyst S. Lichtman now forecasts that the medical technology company will post earnings of $0.90 per share for the quarter, down from their prior forecast of $1.06. Oppenheimer Holdings has a “Buy” rating and a $92.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Medtronic PLC’s Q3 2018 earnings at $1.14 EPS and FY2018 earnings at $4.59 EPS.

MDT has been the subject of several other reports. Jefferies Group LLC reiterated a “buy” rating and issued a $96.00 price target on shares of Medtronic PLC in a report on Thursday, September 28th. William Blair reissued an “outperform” rating on shares of Medtronic PLC in a research report on Thursday, July 6th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $96.00 price objective on shares of Medtronic PLC in a research report on Monday, October 2nd. Zacks Investment Research cut shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, BidaskClub cut shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $88.02.

TRADEMARK VIOLATION NOTICE: “Oppenheimer Holdings Comments on Medtronic PLC’s Q2 2018 Earnings (MDT)” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another website, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The correct version of this piece can be read at https://ledgergazette.com/2017/10/10/oppenheimer-holdings-comments-on-medtronic-plcs-q2-2018-earnings-mdt.html.

Medtronic PLC (MDT) traded up 0.19% on Tuesday, hitting $77.08. The stock had a trading volume of 964,213 shares. The company’s 50-day moving average price is $79.96 and its 200 day moving average price is $83.33. The firm has a market cap of $104.41 billion, a price-to-earnings ratio of 25.94 and a beta of 1.01. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72.

Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The business had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.44 billion. During the same period last year, the business posted $1.03 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 29th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is 61.95%.

Medtronic PLC announced that its Board of Directors has approved a share repurchase plan on Friday, June 23rd that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical technology company to buy up to 49% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

In other news, EVP Bryan C. Hanson sold 12,000 shares of the company’s 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the transaction, the chief executive officer now owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MDT. Parkside Financial Bank & Trust boosted its holdings in shares of Medtronic PLC by 22.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after buying an additional 210 shares during the period. BDO Wealth Advisors LLC acquired a new position in Medtronic PLC during the second quarter worth $103,000. Motco boosted its holdings in Medtronic PLC by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Medtronic PLC by 21.5% during the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after purchasing an additional 290 shares during the last quarter. Finally, Israel Discount Bank of New York acquired a new position in Medtronic PLC during the first quarter worth $117,000. Institutional investors own 80.63% 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 s

Medtronic PLC (NYSE:MDT) – Investment analysts at Oppenheimer Holdings reduced their Q2 2018 earnings per share (EPS) estimates for shares of Medtronic PLC in a report released on Monday. Oppenheimer Holdings analyst S. Lichtman now forecasts that the medical technology company will post earnings of $0.90 per share for the quarter, down from their prior forecast of $1.06. Oppenheimer Holdings has a “Buy” rating and a $92.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Medtronic PLC’s Q3 2018 earnings at $1.14 EPS and FY2018 earnings at $4.59 EPS.

MDT has been the subject of several other reports. Jefferies Group LLC reiterated a “buy” rating and issued a $96.00 price target on shares of Medtronic PLC in a report on Thursday, September 28th. William Blair reissued an “outperform” rating on shares of Medtronic PLC in a research report on Thursday, July 6th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $96.00 price objective on shares of Medtronic PLC in a research report on Monday, October 2nd. Zacks Investment Research cut shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, BidaskClub cut shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $88.02.

TRADEMARK VIOLATION NOTICE: “Oppenheimer Holdings Comments on Medtronic PLC’s Q2 2018 Earnings (MDT)” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another website, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The correct version of this piece can be read at https://ledgergazette.com/2017/10/10/oppenheimer-holdings-comments-on-medtronic-plcs-q2-2018-earnings-mdt.html.

Medtronic PLC (MDT) traded up 0.19% on Tuesday, hitting $77.08. The stock had a trading volume of 964,213 shares. The company’s 50-day moving average price is $79.96 and its 200 day moving average price is $83.33. The firm has a market cap of $104.41 billion, a price-to-earnings ratio of 25.94 and a beta of 1.01. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72.

Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The business had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.44 billion. During the same period last year, the business posted $1.03 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 29th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is 61.95%.

Medtronic PLC announced that its Board of Directors has approved a share repurchase plan on Friday, June 23rd that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical technology company to buy up to 49% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

In other news, EVP Bryan C. Hanson sold 12,000 shares of the company’s 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the transaction, the chief executive officer now owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MDT. Parkside Financial Bank & Trust boosted its holdings in shares of Medtronic PLC by 22.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after buying an additional 210 shares during the period. BDO Wealth Advisors LLC acquired a new position in Medtronic PLC during the second quarter worth $103,000. Motco boosted its holdings in Medtronic PLC by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Medtronic PLC by 21.5% during the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after purchasing an additional 290 shares during the last quarter. Finally, Israel Discount Bank of New York acquired a new position in Medtronic PLC during the first quarter worth $117,000. Institutional investors own 80.63% 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.

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

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