Analysts forecast that Medtronic plc. (NYSE:MDT) will announce earnings per share (EPS) of $1.38 for the current quarter, according to Zacks. Eleven analysts have issued 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 during the same quarter last year, which would indicate a positive year over year growth rate of 3.8%. The business is expected to announce its next quarterly 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 financial year, with EPS estimates ranging from $4.72 to $4.80. For the next financial year, analysts expect that the company 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 research analysts that that provide coverage for Medtronic.

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Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $7.20 billion. During the same period last year, the business earned $1.12 EPS. The company’s revenue was up 1.2% on a year-over-year basis.

A number of brokerages have recently weighed in on MDT. Oppenheimer set a $94.00 price objective on shares of Medtronic and gave the company a “buy” rating in a report on Friday, January 19th. Morgan Stanley raised their price objective on shares of Medtronic from $91.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Evercore ISI began coverage on shares of Medtronic in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 price objective on the stock. Citigroup restated a “buy” rating and issued a $93.00 price objective (down from $100.00) on shares of Medtronic in a report on Thursday, February 22nd. Finally, Bank of America upgraded shares of Medtronic from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $91.24.

Shares of MDT opened at $80.60 on Friday. Medtronic has a twelve month low of $76.41 and a twelve month high of $89.72. The firm has a market capitalization of $107,847.03, a PE ratio of 17.52, a PEG ratio of 2.24 and a beta of 0.94. The company has a current ratio of 2.43, a quick ratio of 2.09 and a debt-to-equity ratio of 0.51.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Friday, March 23rd were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, March 22nd. Medtronic’s payout ratio is currently 40.00%.

In other Medtronic news, SVP Carol A. Surface sold 24,479 shares of the firm’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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James T. Lenehan sold 1,306 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $83.56, for a total transaction of $109,129.36. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. grew its position in Medtronic by 16.6% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 63,710 shares of the medical technology company’s stock worth $5,145,000 after purchasing an additional 9,089 shares during the last quarter. KCM Investment Advisors LLC boosted its holdings in shares of Medtronic by 1.9% in the fourth quarter. KCM Investment Advisors LLC now owns 86,727 shares of the medical technology company’s stock valued at $7,003,000 after acquiring an additional 1,622 shares in the last quarter. Colonial Trust Advisors boosted its holdings in shares of Medtronic by 35.3% in the fourth quarter. Colonial Trust Advisors now owns 40,549 shares of the medical technology company’s stock valued at $3,274,000 after acquiring an additional 10,584 shares in the last quarter. Xact Kapitalforvaltning AB boosted its holdings in shares of Medtronic by 6.7% in the fourth quarter. Xact Kapitalforvaltning AB now owns 240,406 shares of the medical technology company’s stock valued at $19,413,000 after acquiring an additional 15,053 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Medtronic by 1.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 286,744 shares of the medical technology company’s stock valued at $23,156,000 after acquiring an additional 3,824 shares in the last quarter. 81.20% of the stock is currently owned by institutional investors.

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Medtronic 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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Earnings History and Estimates for Medtronic (NYSE:MDT)

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