Medtronic plc. (NYSE:MDT) – Research analysts at Jefferies Group cut their FY2018 earnings per share (EPS) estimates for Medtronic in a research note issued on Tuesday. Jefferies Group analyst R. Denhoy now expects that the medical technology company will post earnings of $4.74 per share for the year, down from their previous forecast of $4.77. Jefferies Group has a “Buy” rating and a $99.00 price objective on the stock. Jefferies Group also issued estimates for Medtronic’s Q2 2019 earnings at $1.18 EPS, Q3 2019 earnings at $1.29 EPS, Q4 2019 earnings at $1.46 EPS and FY2021 earnings at $6.21 EPS.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.01. Medtronic had a net margin of 9.44% and a return on equity of 12.62%. The business had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.20 billion. During the same quarter in the previous year, the company earned $1.12 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year.
Other equities analysts have also recently issued research reports about the stock. Citigroup reissued a “buy” rating and issued a $93.00 price target (down previously from $100.00) on shares of Medtronic in a research note on Thursday. SunTrust Banks reissued a “buy” rating and issued a $96.00 price target on shares of Medtronic in a research note on Friday, November 3rd. Stifel Nicolaus boosted their price target on shares of Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, November 22nd. Argus raised shares of Medtronic from a “hold” rating to a “buy” rating and boosted their price target for the stock from $81.27 to $95.00 in a research note on Tuesday, December 12th. They noted that the move was a valuation call. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Medtronic in a research note on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $90.57.
Medtronic (NYSE:MDT) traded up $1.03 during mid-day trading on Thursday, reaching $81.75. 1,255,438 shares of the company’s stock were exchanged, compared to its average volume of 5,629,002. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50. Medtronic has a fifty-two week low of $76.51 and a fifty-two week high of $89.72. The stock has a market cap of $109,400.00, a PE ratio of 22.30, a PEG ratio of 2.23 and a beta of 0.93.
Hedge funds and other institutional investors have recently modified their holdings of the business. We Are One Seven LLC bought a new position in Medtronic in the 4th quarter worth $104,000. Quadrant Capital Group LLC grew its position in shares of Medtronic by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after buying an additional 290 shares during the period. Blue Chip Partners Inc. purchased a new stake in shares of Medtronic in the 3rd quarter worth about $118,000. BB&T Investment Services Inc. grew its position in shares of Medtronic by 147.6% in the 4th quarter. BB&T Investment Services Inc. now owns 1,518 shares of the medical technology company’s stock worth $126,000 after buying an additional 905 shares during the period. Finally, Barrett Asset Management LLC grew its position in shares of Medtronic by 856.0% in the 4th quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock worth $147,000 after buying an additional 1,635 shares during the period. Institutional investors and hedge funds own 79.83% of the company’s stock.
In related news, EVP Hooman Hakami sold 26,158 shares of the company’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $85.00, for a total transaction of $2,223,430.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the completion of the transaction, the vice president now owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The disclosure for this sale can be found here. Insiders have sold a total of 120,684 shares of company stock valued at $10,318,276 over the last quarter. 0.31% of the stock is currently owned by company insiders.
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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