Medtronic (NYSE:MDT) Issues FY20 Earnings Guidance

Medtronic (NYSE:MDT) updated its FY20 earnings guidance on Tuesday. The company provided EPS guidance of $5.57-5.63 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.56.

A number of analysts recently issued reports on the company. Bank of America set a $118.00 target price on Medtronic and gave the company a buy rating in a research report on Wednesday, August 21st. BTIG Research lifted their target price on Medtronic to $120.00 and gave the company a buy rating in a research report on Wednesday, August 21st. Raymond James lifted their target price on Medtronic from $105.00 to $118.00 and gave the company an outperform rating in a research report on Wednesday, August 21st. ValuEngine downgraded Medtronic from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, BMO Capital Markets lifted their target price on Medtronic from $107.00 to $118.00 and gave the company an outperform rating in a research report on Wednesday, August 21st. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has an average rating of Buy and an average target price of $114.33.

Shares of NYSE MDT opened at $112.31 on Tuesday. The business’s 50 day moving average price is $107.75 and its two-hundred day moving average price is $101.76. The company has a market cap of $150.35 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 2.75 and a beta of 0.62. The company has a quick ratio of 2.20, a current ratio of 2.67 and a debt-to-equity ratio of 0.49. Medtronic has a twelve month low of $81.66 and a twelve month high of $114.46.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. The firm had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.66 billion. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.22 earnings per share. As a group, research analysts anticipate that Medtronic will post 5.56 EPS for the current fiscal year.

In other news, EVP Hooman Hakami sold 82,877 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $107.31, for a total value of $8,893,530.87. Following the transaction, the executive vice president now owns 30,761 shares of the company’s stock, valued at $3,300,962.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard Kuntz sold 21,425 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $107.51, for a total value of $2,303,401.75. Following the completion of the transaction, the senior vice president now directly owns 78,916 shares in the company, valued at approximately $8,484,259.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,569 shares of company stock worth $17,130,869. Company insiders own 0.28% 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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Earnings History and Estimates for Medtronic (NYSE:MDT)

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