Medtronic (NYSE:MDT) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $1.23-1.25 for the period. Medtronic also updated its FY 2019 guidance to $5.10-5.15 EPS.

A number of research firms have commented on MDT. Oppenheimer reissued a buy rating on shares of Medtronic in a report on Tuesday. Zacks Investment Research raised Medtronic from a hold rating to a buy rating and set a $105.00 target price for the company in a report on Tuesday, October 23rd. SunTrust Banks raised their target price on Medtronic to $110.00 and gave the company a buy rating in a report on Friday, August 24th. Bank of America raised their target price on Medtronic from $98.00 to $105.00 and gave the company a buy rating in a report on Wednesday, August 22nd. Finally, Stifel Nicolaus lifted their price target on Medtronic from $87.00 to $96.00 and gave the stock a hold rating in a research note on Wednesday, August 22nd. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Medtronic currently has an average rating of Buy and an average price target of $102.58.

MDT stock traded up $2.69 during trading on Tuesday, hitting $93.06. The stock had a trading volume of 214,885 shares, compared to its average volume of 5,371,233. Medtronic has a 1-year low of $76.41 and a 1-year high of $100.15. The company has a market capitalization of $126.54 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 2.49 and a beta of 0.94. The company has a current ratio of 2.46, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47.

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, beating the consensus estimate of $1.15 by $0.07. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. The firm had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $7.35 billion. During the same quarter in the previous year, the company posted $1.07 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts predict that Medtronic will post 5.12 earnings per share for the current year.

In other Medtronic news, SVP Richard Kuntz sold 47,176 shares of Medtronic stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $95.88, for a total value of $4,523,234.88. Following the completion of the sale, the senior vice president now owns 152,579 shares in the company, valued at approximately $14,629,274.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael J. Coyle sold 145,544 shares of Medtronic stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $95.50, for a total value of $13,899,452.00. Following the completion of the sale, the executive vice president now owns 190,680 shares of the company’s stock, valued at approximately $18,209,940. The disclosure for this sale can be found here. Insiders sold a total of 268,678 shares of company stock valued at $25,818,353 in the last 90 days. 0.28% of the stock is owned by company insiders.

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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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