Q2 2018 Earnings Forecast for Medtronic PLC (MDT) Issued By William Blair
Medtronic PLC (NYSE:MDT) – Stock analysts at William Blair increased their Q2 2018 earnings estimates for Medtronic PLC in a research report issued to clients and investors on Thursday. William Blair analyst K. Krum now anticipates that the medical technology company will post earnings per share of $1.02 for the quarter, up from their previous estimate of $0.87. William Blair also issued estimates for Medtronic PLC’s FY2018 earnings at $4.71 EPS.
Medtronic PLC (NYSE:MDT) last announced its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The firm had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.44 billion. During the same quarter last year, the firm posted $1.03 EPS. The business’s revenue was up 3.1% on a year-over-year basis.
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MDT has been the topic of a number of other research reports. Jefferies Group LLC restated a “buy” rating and issued a $96.00 price objective on shares of Medtronic PLC in a report on Thursday, September 28th. SunTrust Banks, Inc. restated a “buy” rating and issued a $96.00 price objective on shares of Medtronic PLC in a report on Monday, October 2nd. Zacks Investment Research lowered Medtronic PLC from a “hold” rating to a “sell” rating in a report on Friday, August 25th. BidaskClub lowered Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Cowen and Company set a $95.00 price objective on Medtronic PLC and gave the company a “buy” rating in a report on Tuesday, August 22nd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $87.88.
Medtronic PLC (MDT) opened at $79.33 on Monday. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The stock has a market capitalization of $107,459.70, a P/E ratio of 16.92, a PEG ratio of 2.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.40 and a current ratio of 1.64.
Several institutional investors and hedge funds have recently made changes to their positions in MDT. BlackRock Inc. boosted its stake in shares of Medtronic PLC by 2,513.4% in the 1st quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock valued at $7,011,571,000 after buying an additional 83,705,052 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Medtronic PLC by 1,061.4% in the 1st quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock valued at $1,101,960,000 after buying an additional 12,500,992 shares during the period. Vanguard Group Inc. boosted its stake in shares of Medtronic PLC by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock valued at $8,243,034,000 after buying an additional 4,412,536 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Medtronic PLC by 135.5% in the 2nd quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock valued at $538,727,000 after buying an additional 3,493,058 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Medtronic PLC by 35.0% in the 3rd quarter. American Century Companies Inc. now owns 9,082,452 shares of the medical technology company’s stock valued at $706,342,000 after buying an additional 2,354,467 shares during the period. Institutional investors and hedge funds own 81.37% of the company’s stock.
In other news, CEO Omar Ishrak sold 140,407 shares of Medtronic PLC stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $81.63, for a total value of $11,461,423.41. Following the completion of the transaction, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bryan C. Hanson sold 16,000 shares of Medtronic PLC stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 29th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Thursday, September 28th. Medtronic PLC’s payout ratio is presently 61.95%.
Medtronic PLC Company Profile
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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