Medtronic (NYSE:MDT) Releases FY 2020 Earnings Guidance

Medtronic (NYSE:MDT) updated its FY 2020 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $5.54-5.60 for the period, compared to the Thomson Reuters consensus estimate of $5.48.

A number of research firms recently issued reports on MDT. Northland Securities restated a hold rating and set a $100.00 price target on shares of Medtronic in a research note on Wednesday. UBS Group raised their price target on Medtronic from $112.00 to $122.00 and gave the stock a buy rating in a research note on Wednesday. Raymond James raised their price target on Medtronic from $105.00 to $118.00 and gave the stock an outperform rating in a research note on Wednesday. Bank of America set a $118.00 price target on Medtronic and gave the stock a buy rating in a research note on Wednesday. Finally, Royal Bank of Canada set a $110.00 price target on Medtronic and gave the stock a buy rating in a research note on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $113.38.

Shares of MDT stock opened at $107.83 on Friday. The business’s 50 day moving average is $101.49 and its two-hundred day moving average is $93.96. Medtronic has a twelve month low of $81.66 and a twelve month high of $109.70. The company has a market capitalization of $143.38 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 2.69 and a beta of 0.67. The company has a current ratio of 2.67, a quick ratio of 2.15 and a debt-to-equity ratio of 0.49.



Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.08. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. The company had revenue of $7.49 billion for the quarter, compared to the consensus estimate of $7.40 billion. During the same period last year, the business posted $1.17 EPS. The company’s revenue was up 1.5% on a year-over-year basis. As a group, equities analysts predict that Medtronic will post 5.56 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 8th were paid a $0.54 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.50. This represents a $2.16 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, July 5th. Medtronic’s dividend payout ratio (DPR) is 41.38%.

In other Medtronic news, SVP Richard Kuntz sold 3,438 shares of Medtronic stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $101.12, for a total value of $347,650.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Hoedt Rob Ten sold 9,000 shares of Medtronic stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $91.88, for a total value of $826,920.00. Following the completion of the transaction, the executive vice president now owns 58,785 shares in the company, valued at $5,401,165.80. The disclosure for this sale can be found here. Insiders sold a total of 95,701 shares of company stock worth $9,318,744 over the last quarter. Company insiders own 0.28% of the company’s stock.

Medtronic Company Profile

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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Earnings History and Estimates for Medtronic (NYSE:MDT)

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