Medtronic PLC (MDT) Expected to Announce Earnings of $1.12 Per Share

Equities research analysts expect Medtronic PLC (NYSE:MDT) to post earnings per share of $1.12 for the current quarter, according to Zacks. Twelve analysts have issued estimates for Medtronic’s earnings, with the highest EPS estimate coming in at $1.22 and the lowest estimate coming in at $1.10. Medtronic also posted earnings of $1.12 per share in the same quarter last year. The firm is expected to issue its next quarterly earnings results on Tuesday, August 28th.

According to Zacks, analysts expect that Medtronic will report full year earnings of $5.12 per share for the current year, with EPS estimates ranging from $5.10 to $5.16. For the next year, analysts expect that the business will post earnings of $5.58 per share, with EPS estimates ranging from $5.49 to $5.67. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Medtronic.

Medtronic (NYSE:MDT) last released its earnings results on Thursday, May 24th. The medical technology company reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.03. The firm had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8 billion. Medtronic had a net margin of 10.36% and a return on equity of 12.84%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 EPS.

MDT has been the subject of a number of recent research reports. Oppenheimer restated a “buy” rating on shares of Medtronic in a research note on Tuesday, March 20th. Morgan Stanley cut their price target on Medtronic from $95.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, March 29th. Piper Jaffray Companies initiated coverage on Medtronic in a research note on Friday, April 27th. They set an “overweight” rating and a $90.00 price target for the company. SunTrust Banks boosted their price target on Medtronic to $96.00 and gave the company a “buy” rating in a research note on Monday, May 21st. Finally, TheStreet upgraded Medtronic from a “c+” rating to a “b-” rating in a research note on Monday, May 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company’s stock. Medtronic has an average rating of “Buy” and a consensus price target of $92.82.

Medtronic stock opened at $86.81 on Friday. The firm has a market cap of $117.66 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 2.37 and a beta of 0.94. Medtronic has a fifty-two week low of $76.41 and a fifty-two week high of $89.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.92.

In related news, SVP Bradley E. Lerman sold 8,910 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $86.82, for a total value of $773,566.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Richard Kuntz sold 11,500 shares of the business’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $87.13, for a total value of $1,001,995.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Medtronic by 1.4% during the 1st quarter. BlackRock Inc. now owns 95,900,878 shares of the medical technology company’s stock worth $7,693,168,000 after acquiring an additional 1,305,298 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Medtronic by 1.8% during the 1st quarter. Artisan Partners Limited Partnership now owns 22,504,041 shares of the medical technology company’s stock worth $1,805,274,000 after acquiring an additional 392,687 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Medtronic by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 14,191,675 shares of the medical technology company’s stock worth $1,143,549,000 after acquiring an additional 351,256 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Medtronic by 5.9% during the 1st quarter. Wells Fargo & Company MN now owns 13,941,900 shares of the medical technology company’s stock worth $1,118,419,000 after acquiring an additional 782,123 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Medtronic by 2.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 7,182,755 shares of the medical technology company’s stock valued at $576,200,000 after purchasing an additional 159,941 shares during the last quarter. 80.19% of the stock is currently owned by institutional investors.

Medtronic Company Profile

Medtronic plc manufactures and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. The company's Cardiac and Vascular Group segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; diagnostics and monitoring devices; mechanical circulatory support, TYRX, and AF products; and remote monitoring and patient-centered software.

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Earnings History and Estimates for Medtronic (NYSE:MDT)

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