Medtronic plc. (NYSE:MDT) – Equities researchers at Leerink Swann reduced their FY2018 EPS estimates for Medtronic in a research report issued on Wednesday. Leerink Swann analyst D. Antalffy now forecasts that the medical technology company will earn $4.73 per share for the year, down from their previous forecast of $4.75. Leerink Swann also issued estimates for Medtronic’s Q4 2018 earnings at $1.38 EPS.
MDT has been the subject of several other research reports. Morgan Stanley lifted their price target on shares of Medtronic from $91.00 to $95.00 and gave the company an “equal weight” rating in a research report on Monday, February 5th. Oppenheimer reissued a “buy” rating and issued a $94.00 price target on shares of Medtronic in a research report on Tuesday, February 20th. TheStreet downgraded shares of Medtronic from a “b” rating to a “c+” rating in a research report on Tuesday, February 20th. Jefferies Group reissued a “buy” rating and issued a $99.00 price target on shares of Medtronic in a research report on Thursday, November 23rd. Finally, Stifel Nicolaus lifted their price target on shares of Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $91.50.
Medtronic stock traded down $0.04 during midday trading on Thursday, reaching $79.54. 687,227 shares of the company traded hands, compared to its average volume of 5,569,701. Medtronic has a twelve month low of $76.51 and a twelve month high of $89.72. The company has a current ratio of 2.43, a quick ratio of 2.09 and a debt-to-equity ratio of 0.51. The firm has a market cap of $108,294.30, a P/E ratio of 39.18, a P/E/G ratio of 2.27 and a beta of 0.97.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.16 by $0.01. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The company had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter last year, the firm posted $1.12 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis.
A number of large investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. grew its stake in shares of Medtronic by 16.6% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 63,710 shares of the medical technology company’s stock worth $5,145,000 after acquiring an additional 9,089 shares in the last quarter. KCM Investment Advisors LLC grew its stake in shares of Medtronic by 1.9% in the 4th quarter. KCM Investment Advisors LLC now owns 86,727 shares of the medical technology company’s stock worth $7,003,000 after acquiring an additional 1,622 shares in the last quarter. Colonial Trust Advisors grew its stake in shares of Medtronic by 35.3% in the 4th quarter. Colonial Trust Advisors now owns 40,549 shares of the medical technology company’s stock worth $3,274,000 after acquiring an additional 10,584 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of Medtronic by 6.7% in the 4th quarter. Xact Kapitalforvaltning AB now owns 240,406 shares of the medical technology company’s stock worth $19,413,000 after acquiring an additional 15,053 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Medtronic by 1.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 286,744 shares of the medical technology company’s stock worth $23,156,000 after acquiring an additional 3,824 shares in the last quarter. Institutional investors and hedge funds own 81.19% of the company’s stock.
In other Medtronic news, EVP Hooman Hakami sold 26,158 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $85.00, for a total transaction of $2,223,430.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James T. Lenehan sold 1,306 shares of the firm’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $83.56, for a total value of $109,129.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,469 shares of company stock worth $11,016,054. Company insiders own 0.31% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 23rd will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Thursday, March 22nd. Medtronic’s dividend payout ratio (DPR) is presently 90.64%.
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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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