Medtronic PLC (MDT) Expected to Announce Earnings of $1.14 Per Share

Wall Street analysts predict that Medtronic PLC (NYSE:MDT) will post earnings per share of $1.14 for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have provided estimates for Medtronic’s earnings, with estimates ranging from $1.14 to $1.16. Medtronic reported earnings of $1.07 per share in the same quarter last year, which would suggest a positive year over year growth rate of 6.5%. The company is expected to report its next quarterly earnings report before the market opens on Tuesday, November 20th.

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 $5.14. For the next fiscal year, analysts expect that the firm will post earnings of $5.56 per share, with EPS estimates ranging from $5.46 to $5.68. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Medtronic.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.06. The firm had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $7.24 billion. Medtronic had a return on equity of 12.98% and a net margin of 10.56%. The company’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 EPS.



Several research firms have recently weighed in on MDT. Oppenheimer reissued a “buy” rating on shares of Medtronic in a report on Friday, September 21st. BMO Capital Markets increased their price target on Medtronic from $94.00 to $104.00 and gave the company an “outperform” rating in a report on Wednesday, August 22nd. Royal Bank of Canada increased their price target on Medtronic to $104.00 and gave the company an “outperform” rating in a report on Wednesday, August 22nd. Argus upped their price objective on Medtronic from $108.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. Finally, Zacks Investment Research upgraded Medtronic from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research note on Tuesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $102.21.

Shares of NYSE MDT traded down $2.01 during midday trading on Friday, hitting $89.75. 6,725,617 shares of the stock traded hands, compared to its average volume of 4,760,259. The stock has a market capitalization of $121.21 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 2.38 and a beta of 0.92. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.46 and a quick ratio of 2.06. Medtronic has a one year low of $76.41 and a one year high of $100.15.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Friday, September 28th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.00 annualized dividend and a dividend yield of 2.23%. Medtronic’s dividend payout ratio (DPR) is 41.93%.

In other Medtronic news, Director Richard H. Anderson purchased 2,600 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was acquired at an average price of $95.88 per share, for a total transaction of $249,288.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael J. Coyle sold 145,544 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $95.50, for a total value of $13,899,452.00. Following the completion of the sale, the executive vice president now owns 190,680 shares of the company’s stock, valued at approximately $18,209,940. The disclosure for this sale can be found here. Insiders sold a total of 268,678 shares of company stock valued at $25,818,353 over the last 90 days. 0.28% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Ballew Advisors Inc purchased a new stake in Medtronic in the 2nd quarter worth $100,000. Fort L.P. purchased a new position in shares of Medtronic during the second quarter valued at about $121,000. Global Trust Asset Management LLC grew its position in shares of Medtronic by 112.1% during the second quarter. Global Trust Asset Management LLC now owns 1,523 shares of the medical technology company’s stock valued at $130,000 after purchasing an additional 805 shares in the last quarter. Polaris Greystone Financial Group LLC grew its position in shares of Medtronic by 255.1% during the third quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock valued at $130,000 after purchasing an additional 949 shares in the last quarter. Finally, Trustcore Financial Services LLC grew its position in shares of Medtronic by 97.3% during the second quarter. Trustcore Financial Services LLC now owns 1,760 shares of the medical technology company’s stock valued at $151,000 after purchasing an additional 868 shares in the last quarter. Institutional investors and hedge funds own 80.14% of the company’s stock.

About Medtronic

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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