Medtronic PLC (NYSE:MDT) – Research analysts at Piper Jaffray Companies decreased their Q3 2019 earnings per share estimates for Medtronic in a report issued on Tuesday, November 20th. Piper Jaffray Companies analyst M. O’brien now anticipates that the medical technology company will post earnings per share of $1.24 for the quarter, down from their previous forecast of $1.29. Piper Jaffray Companies also issued estimates for Medtronic’s Q1 2020 earnings at $1.30 EPS, Q2 2020 earnings at $1.35 EPS, Q3 2020 earnings at $1.40 EPS, Q4 2020 earnings at $1.56 EPS and FY2021 earnings at $6.00 EPS.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 20th. The medical technology company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.15 by $0.07. Medtronic had a net margin of 7.44% and a return on equity of 13.51%. The firm had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $7.35 billion. During the same period in the prior year, the firm posted $1.07 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year.

A number of other equities analysts also recently issued reports on MDT. Zacks Investment Research downgraded shares of Medtronic from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Needham & Company LLC raised shares of Medtronic from a “buy” rating to a “strong-buy” rating and increased their price target for the stock from $103.00 to $119.00 in a research note on Monday, August 13th. Oppenheimer reissued a “buy” rating and issued a $104.00 price target on shares of Medtronic in a research note on Tuesday, August 21st. Stifel Nicolaus increased their price target on shares of Medtronic from $87.00 to $96.00 and gave the stock a “hold” rating in a research note on Wednesday, August 22nd. Finally, Morgan Stanley increased their price target on shares of Medtronic from $95.00 to $105.00 and gave the stock an “equal weight” 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’s stock. The stock has a consensus rating of “Buy” and an average target price of $102.98.

MDT stock opened at $92.97 on Thursday. Medtronic has a 1 year low of $76.41 and a 1 year high of $100.15. The stock has a market capitalization of $124.46 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.45 and a beta of 0.94. The company has a quick ratio of 2.06, a current ratio of 2.56 and a debt-to-equity ratio of 0.48.

In other Medtronic news, EVP Hooman Hakami sold 26,159 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $96.29, for a total value of $2,518,850.11. Following the sale, the executive vice president now owns 63,046 shares in the company, valued at $6,070,699.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Richard Kuntz sold 47,176 shares of the company’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $95.88, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 123,134 shares of company stock worth $11,918,901. Corporate insiders own 0.28% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Chicago Partners Investment Group LLC grew its holdings in shares of Medtronic by 24.4% during the second quarter. Chicago Partners Investment Group LLC now owns 2,699 shares of the medical technology company’s stock valued at $231,000 after buying an additional 530 shares during the last quarter. Wesbanco Bank Inc. grew its holdings in shares of Medtronic by 0.5% during the third quarter. Wesbanco Bank Inc. now owns 106,601 shares of the medical technology company’s stock valued at $10,486,000 after buying an additional 538 shares during the last quarter. Duncker Streett & Co. Inc. grew its holdings in shares of Medtronic by 3.0% during the third quarter. Duncker Streett & Co. Inc. now owns 18,383 shares of the medical technology company’s stock valued at $1,808,000 after buying an additional 544 shares during the last quarter. Telemus Capital LLC grew its holdings in shares of Medtronic by 4.9% during the third quarter. Telemus Capital LLC now owns 11,590 shares of the medical technology company’s stock valued at $1,140,000 after buying an additional 544 shares during the last quarter. Finally, Strategic Financial Services Inc grew its holdings in shares of Medtronic by 1.0% during the second quarter. Strategic Financial Services Inc now owns 57,707 shares of the medical technology company’s stock valued at $4,940,000 after buying an additional 554 shares during the last quarter. Institutional investors and hedge funds own 79.56% of the company’s stock.

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.

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Earnings History and Estimates for Medtronic (NYSE:MDT)

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