Medtronic (MDT) Releases FY19 Earnings Guidance

Medtronic (NYSE:MDT) updated its FY19 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $5.14-5.16 for the period, compared to the Thomson Reuters consensus estimate of $5.12.

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a strong-buy rating and set a $117.00 price target (down previously from $120.00) on shares of Medtronic in a research note on Monday, February 4th. Credit Suisse Group assumed coverage on Medtronic in a research note on Monday, December 17th. They set an outperform rating and a $109.00 price target for the company. UBS Group assumed coverage on Medtronic in a research note on Wednesday, November 28th. They set a buy rating and a $112.00 price target for the company. Raymond James cut their price target on Medtronic from $105.00 to $104.00 and set an outperform rating for the company in a research note on Wednesday, November 21st. Finally, Morgan Stanley boosted their target price on Medtronic from $98.00 to $102.00 and gave the stock an equal weight rating in a research note on Wednesday, January 2nd. Nine research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $104.09.

Shares of NYSE MDT opened at $92.27 on Tuesday. Medtronic has a twelve month low of $76.41 and a twelve month high of $100.15. The company has a market capitalization of $123.92 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 2.41 and a beta of 0.82. The company has a current ratio of 2.56, a quick ratio of 2.11 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 20th. The medical technology company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.07. The firm had revenue of $7.48 billion for the quarter, compared to the consensus estimate of $7.35 billion. Medtronic had a return on equity of 13.51% and a net margin of 7.44%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.07 EPS. On average, analysts forecast that Medtronic will post 5.13 EPS for the current fiscal year.

In related news, CEO Omar Ishrak purchased 12,000 shares of the stock in a transaction that occurred on Wednesday, January 9th. The shares were bought at an average price of $84.05 per share, with a total value of $1,008,600.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Karen L. Parkhill purchased 3,000 shares of the stock in a transaction that occurred on Wednesday, January 9th. The stock was bought at an average cost of $83.87 per share, for a total transaction of $251,610.00. The disclosure for this purchase can be found here. Insiders own 0.28% of the company’s stock.

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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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