$1.28 EPS Expected for Medtronic PLC (NYSE:MDT) This Quarter

Wall Street analysts forecast that Medtronic PLC (NYSE:MDT) will post earnings of $1.28 per share for the current quarter, according to Zacks Investment Research. Eleven analysts have provided estimates for Medtronic’s earnings. The lowest EPS estimate is $1.27 and the highest is $1.29. Medtronic posted earnings of $1.22 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.9%. The business is expected to issue its next quarterly earnings report on Tuesday, November 19th.

According to Zacks, analysts expect that Medtronic will report full-year earnings of $5.56 per share for the current year, with EPS estimates ranging from $5.55 to $5.58. For the next financial year, analysts expect that the business will report earnings of $6.00 per share, with EPS estimates ranging from $5.92 to $6.05. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Medtronic.

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 analysts’ consensus estimates of $1.18 by $0.08. The business had revenue of $7.49 billion during the quarter, compared to analyst estimates of $7.40 billion. Medtronic had a net margin of 14.41% and a return on equity of 14.36%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.17 EPS.



A number of brokerages have weighed in on MDT. Wells Fargo & Co boosted their target price on shares of Medtronic from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. ValuEngine lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Northland Securities reiterated a “hold” rating and set a $100.00 target price on shares of Medtronic in a research note on Wednesday, August 21st. Stifel Nicolaus boosted their target price on shares of Medtronic from $95.00 to $112.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Finally, Cowen reissued an “outperform” rating and set a $111.00 price objective (up previously from $99.00) on shares of Medtronic in a research report on Wednesday, August 14th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $114.15.

In related news, SVP Bradley E. Lerman sold 6,599 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $102.02, for a total value of $673,229.98. Following the sale, the senior vice president now directly owns 105,960 shares of the company’s stock, valued at approximately $10,810,039.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carol A. Surface sold 9,000 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $97.66, for a total transaction of $878,940.00. The disclosure for this sale can be found here. Insiders have sold a total of 105,914 shares of company stock worth $11,194,591 over the last 90 days. Corporate insiders own 0.28% of the company’s stock.

A number of institutional investors have recently bought and sold shares of MDT. Hayden Royal LLC purchased a new position in shares of Medtronic during the second quarter worth approximately $275,000. Rockefeller Capital Management L.P. boosted its stake in shares of Medtronic by 0.6% during the first quarter. Rockefeller Capital Management L.P. now owns 1,357,738 shares of the medical technology company’s stock valued at $123,663,000 after purchasing an additional 7,939 shares in the last quarter. Cim LLC boosted its stake in shares of Medtronic by 12.9% during the second quarter. Cim LLC now owns 4,189 shares of the medical technology company’s stock valued at $408,000 after purchasing an additional 480 shares in the last quarter. Concentric Wealth Management LLC boosted its stake in shares of Medtronic by 3.1% during the second quarter. Concentric Wealth Management LLC now owns 19,536 shares of the medical technology company’s stock valued at $1,903,000 after purchasing an additional 595 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its stake in shares of Medtronic by 35.3% during the first quarter. Belpointe Asset Management LLC now owns 4,581 shares of the medical technology company’s stock valued at $417,000 after purchasing an additional 1,196 shares in the last quarter. 81.19% of the stock is currently owned by institutional investors.

MDT traded up $0.01 during mid-day trading on Friday, reaching $110.39. 105,588 shares of the company traded hands, compared to its average volume of 4,687,985. The stock has a market capitalization of $144.20 billion, a P/E ratio of 21.12, a P/E/G ratio of 2.64 and a beta of 0.65. The company has a quick ratio of 2.20, a current ratio of 2.67 and a debt-to-equity ratio of 0.49. The company’s fifty day moving average price is $104.67 and its 200-day moving average price is $95.67. Medtronic has a 52-week low of $81.66 and a 52-week high of $111.24.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, September 27th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Thursday, September 26th. Medtronic’s dividend payout ratio is 41.38%.

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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