Medtronic PLC (NYSE:MDT) – Analysts at Oppenheimer boosted their Q3 2018 EPS estimates for Medtronic in a research note issued to investors on Wednesday. Oppenheimer analyst S. Lichtman now anticipates that the medical technology company will earn $1.15 per share for the quarter, up from their previous forecast of $1.14. Oppenheimer currently has a “Buy” rating and a $94.00 target price on the stock. Oppenheimer also issued estimates for Medtronic’s FY2018 earnings at $4.75 EPS and FY2019 earnings at $5.14 EPS.
A number of other research analysts also recently issued reports on MDT. Jefferies Group LLC restated a “buy” rating and issued a $99.00 price target on shares of Medtronic in a research report on Thursday. Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Thursday. Northland Securities restated a “hold” rating and issued a $80.00 price target on shares of Medtronic in a research report on Wednesday, November 22nd. Stifel Nicolaus raised their price target on shares of Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, November 22nd. Finally, SunTrust Banks, Inc. set a $92.00 price target on shares of Medtronic and gave the stock a “buy” rating in a research report on Sunday, November 19th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company’s stock. Medtronic has an average rating of “Hold” and a consensus price target of $88.02.
Medtronic (NYSE MDT) opened at $83.25 on Monday. The firm has a market cap of $112,686.54, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 2.20 and a beta of 1.00. The company has a current ratio of 2.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. Medtronic has a fifty-two week low of $69.35 and a fifty-two week high of $89.72.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the business earned $1.12 EPS.
Several hedge funds have recently added to or reduced their stakes in the business. Hudock Capital Group LLC grew its stake in shares of Medtronic by 0.5% in the 2nd quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock worth $194,000 after purchasing an additional 11 shares during the last quarter. Bollard Group LLC grew its stake in shares of Medtronic by 0.4% in the 2nd quarter. Bollard Group LLC now owns 3,651 shares of the medical technology company’s stock worth $324,000 after purchasing an additional 14 shares during the last quarter. Triangle Securities Wealth Management grew its stake in shares of Medtronic by 0.3% in the 2nd quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock worth $390,000 after purchasing an additional 15 shares during the last quarter. IFC Holdings Incorporated FL grew its stake in shares of Medtronic by 0.3% in the 2nd quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock worth $501,000 after purchasing an additional 17 shares during the last quarter. Finally, Arcus Capital Partners LLC grew its stake in shares of Medtronic by 0.8% in the 2nd quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock worth $288,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 81.14% of the company’s stock.
In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the sale, the chief executive officer now owns 668,503 shares in the company, valued at $54,569,899.89. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,407 shares of company stock worth $13,974,223. 0.31% of the stock is currently owned by insiders.
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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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