Medtronic (NYSE:MDT) issued an update on its FY19 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.10-5.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.12. Medtronic also updated its FY 2019 guidance to $5.10-5.15 EPS.

Medtronic stock opened at $90.37 on Tuesday. The company has a market capitalization of $126.54 billion, a PE ratio of 18.95, a P/E/G ratio of 2.49 and a beta of 0.94. Medtronic has a 1 year low of $76.41 and a 1 year high of $100.15. 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 released its quarterly earnings results on Tuesday, November 20th. The medical technology company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.07. The business had revenue of $7.48 billion for the quarter, compared to the consensus estimate of $7.35 billion. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 EPS. On average, research analysts forecast that Medtronic will post 5.12 EPS for the current year.

A number of equities research analysts have recently issued reports on MDT shares. Zacks Investment Research raised shares of Medtronic from a hold rating to a buy rating and set a $105.00 price target on the stock in a research note on Tuesday, October 23rd. ValuEngine raised shares of Medtronic from a hold rating to a buy rating in a research note on Friday, September 7th. Citigroup boosted their price target on shares of Medtronic from $104.00 to $109.00 and gave the company a buy rating in a research note on Friday, August 24th. SunTrust Banks boosted their price target on shares of Medtronic to $110.00 and gave the company a buy rating in a research note on Friday, August 24th. Finally, Argus boosted their price target on shares of Medtronic from $108.00 to $120.00 and gave the company a buy rating in a research note on Monday, October 8th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $102.58.

In other Medtronic news, EVP Michael J. Coyle sold 145,544 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $95.50, for a total transaction of $13,899,452.00. Following the completion of the transaction, the executive vice president now owns 190,680 shares in the company, valued at approximately $18,209,940. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard H. Anderson purchased 2,600 shares of the stock in a transaction on Thursday, August 23rd. The shares were purchased at an average price of $95.88 per share, with a total value of $249,288.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 268,678 shares of company stock worth $25,818,353. 0.28% of the stock is owned by insiders.

TRADEMARK VIOLATION NOTICE: “Medtronic (MDT) Updates FY19 Earnings Guidance” was posted by Daily Political and is the sole property of of Daily Political. If you are accessing this article on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The legal version of this article can be accessed at https://www.dailypolitical.com/2018/11/20/medtronic-mdt-updates-fy19-earnings-guidance.html.

Medtronic Company Profile

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.

See Also: Why do companies engage in swaps?

Earnings History and Estimates for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.