Medtronic plc. (NYSE:MDT) – Investment analysts at Leerink Swann dropped their Q1 2019 earnings estimates for Medtronic in a report released on Wednesday. Leerink Swann analyst D. Antalffy now forecasts that the medical technology company will post earnings of $1.11 per share for the quarter, down from their prior forecast of $1.19. Leerink Swann also issued estimates for Medtronic’s Q4 2019 earnings at $1.54 EPS, FY2020 earnings at $5.72 EPS and FY2021 earnings at $6.17 EPS.
Several other equities research analysts also recently weighed in on the stock. SunTrust Banks restated a “buy” rating and issued a $96.00 target price on shares of Medtronic in a research note on Friday, November 3rd. Bank of America upgraded shares of Medtronic from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Argus upgraded shares of Medtronic from a “hold” rating to a “buy” rating and raised their target price for the company from $81.27 to $95.00 in a research note on Tuesday, December 12th. They noted that the move was a valuation call. Oppenheimer restated a “buy” rating on shares of Medtronic in a research note on Thursday, December 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $94.00 target price on shares of Medtronic in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $90.85.
Shares of Medtronic (NYSE MDT) traded down $0.02 on Thursday, reaching $80.39. 5,170,000 shares of the company’s stock traded hands, compared to its average volume of 5,640,000. The firm has a market capitalization of $108,980.00, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 2.23 and a beta of 0.93. Medtronic has a 52 week low of $76.51 and a 52 week high of $89.72. The company has a current ratio of 2.43, a quick ratio of 2.05 and a debt-to-equity ratio of 0.51.
Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.01. The company had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.20 billion. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. Medtronic’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $1.12 earnings per share.
In related news, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the completion of the transaction, the executive vice president now directly owns 88,818 shares in the company, valued at $7,355,906.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the transaction, the vice president now owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The disclosure for this sale can be found here. Insiders have sold 120,684 shares of company stock valued at $10,318,276 over the last quarter. Insiders own 0.31% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of MDT. Janus Henderson Group PLC acquired a new position in Medtronic during the third quarter valued at $579,952,000. Lazard Asset Management LLC lifted its position in Medtronic by 43.8% during the second quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock valued at $1,745,699,000 after purchasing an additional 5,991,094 shares during the period. BlackRock Inc. lifted its position in Medtronic by 6.4% during the fourth quarter. BlackRock Inc. now owns 94,595,580 shares of the medical technology company’s stock valued at $7,638,592,000 after purchasing an additional 5,688,180 shares during the period. Alliancebernstein L.P. lifted its position in Medtronic by 135.5% during the second quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock valued at $538,727,000 after purchasing an additional 3,493,058 shares during the period. Finally, Vanguard Group Inc. lifted its position in Medtronic by 2.4% during the second quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock valued at $9,298,872,000 after purchasing an additional 2,454,380 shares during the period. Institutional investors own 79.83% of the company’s stock.
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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