Analysts Expect Medtronic plc. (MDT) Will Post Earnings of $1.38 Per Share

Wall Street brokerages expect Medtronic plc. (NYSE:MDT) to post earnings of $1.38 per share for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Medtronic’s earnings, with the lowest EPS estimate coming in at $1.37 and the highest estimate coming in at $1.40. Medtronic reported earnings of $1.33 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.8%. The firm is scheduled to report its next earnings results on Thursday, May 24th.

According to Zacks, analysts expect that Medtronic will report full year earnings of $4.74 per share for the current year, with EPS estimates ranging from $4.72 to $4.80. For the next financial year, analysts anticipate that the business will report earnings of $5.15 per share, with EPS estimates ranging from $5.10 to $5.28. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Medtronic.

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Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.01. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The business had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same period last year, the business posted $1.12 earnings per share. Medtronic’s quarterly revenue was up 1.2% compared to the same quarter last year.

Several equities analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Medtronic from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday, March 29th. Oppenheimer reiterated a “buy” rating on shares of Medtronic in a report on Tuesday, March 20th. Citigroup reiterated a “buy” rating and set a $93.00 target price (down from $100.00) on shares of Medtronic in a report on Thursday, February 22nd. TheStreet lowered shares of Medtronic from a “b” rating to a “c+” rating in a report on Tuesday, February 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $91.24.

Shares of MDT stock traded down $0.22 during trading hours on Friday, hitting $79.97. 1,054,421 shares of the company’s stock traded hands, compared to its average volume of 5,400,659. Medtronic has a 12-month low of $76.41 and a 12-month high of $89.72. The firm has a market capitalization of $109,283.73, a price-to-earnings ratio of 17.38, a PEG ratio of 2.40 and a beta of 0.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.09 and a current ratio of 2.43.

The business also recently announced a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Friday, March 23rd were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, March 22nd. Medtronic’s dividend payout ratio (DPR) is presently 40.00%.

In other news, Director James T. Lenehan sold 1,306 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $83.56, for a total transaction of $109,129.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carol A. Surface sold 24,479 shares of the business’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $78.18, for a total transaction of $1,913,768.22. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDT. S&CO Inc. lifted its stake in shares of Medtronic by 0.4% during the 3rd quarter. S&CO Inc. now owns 204,475 shares of the medical technology company’s stock valued at $15,902,000 after buying an additional 717 shares in the last quarter. Smith Moore & CO. lifted its stake in Medtronic by 8.0% in the 3rd quarter. Smith Moore & CO. now owns 8,658 shares of the medical technology company’s stock worth $673,000 after purchasing an additional 645 shares in the last quarter. Prudential Financial Inc. lifted its stake in Medtronic by 1.6% in the 3rd quarter. Prudential Financial Inc. now owns 3,308,500 shares of the medical technology company’s stock worth $257,302,000 after purchasing an additional 53,474 shares in the last quarter. Boston Partners lifted its stake in Medtronic by 107.3% in the 3rd quarter. Boston Partners now owns 1,604,606 shares of the medical technology company’s stock worth $124,790,000 after purchasing an additional 830,436 shares in the last quarter. Finally, Golub Group LLC lifted its stake in Medtronic by 1.1% in the 3rd quarter. Golub Group LLC now owns 366,196 shares of the medical technology company’s stock worth $28,479,000 after purchasing an additional 4,142 shares in the last quarter. Institutional investors own 81.20% of the company’s stock.

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About Medtronic

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

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Earnings History and Estimates for Medtronic (NYSE:MDT)

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