Wall Street brokerages forecast that Medtronic plc (NYSE:MDT) will post earnings per share (EPS) of $1.15 for the current quarter, according to Zacks. Ten analysts have provided estimates for Medtronic’s earnings. The lowest EPS estimate is $1.11 and the highest is $1.17. Medtronic posted earnings of $1.44 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 20.1%. The firm is expected to issue its next quarterly earnings results before the market opens on Tuesday, February 23rd.
On average, analysts expect that Medtronic will report full-year earnings of $4.21 per share for the current year, with EPS estimates ranging from $4.14 to $4.29. For the next financial year, analysts expect that the business will post earnings of $5.82 per share, with EPS estimates ranging from $5.63 to $6.04. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Medtronic.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 23rd. The medical technology company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.14. The business had revenue of $7.78 billion during the quarter, compared to analysts’ expectations of $7.77 billion. Medtronic had a return on equity of 9.71% and a net margin of 12.69%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $1.44 EPS.
MDT has been the topic of several recent analyst reports. Stifel Nicolaus increased their target price on shares of Medtronic from $125.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, November 25th. The Goldman Sachs Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and raised their price target for the stock from $100.00 to $119.00 in a research note on Tuesday, December 15th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on shares of Medtronic from $120.00 to $128.00 in a research report on Wednesday, November 25th. BTIG Research raised their target price on shares of Medtronic from $119.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, November 25th. Finally, Truist raised their price target on shares of Medtronic to $128.00 and gave the company a “buy” rating in a report on Wednesday, November 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $120.93.
NYSE:MDT traded up $2.93 during midday trading on Tuesday, hitting $118.68. 358,475 shares of the company traded hands, compared to its average volume of 4,571,249. The company has a current ratio of 2.16, a quick ratio of 1.79 and a debt-to-equity ratio of 0.52. The firm’s fifty day moving average is $116.82 and its 200-day moving average is $110.18. The firm has a market capitalization of $159.75 billion, a P/E ratio of 44.18, a P/E/G ratio of 3.65 and a beta of 0.70. Medtronic has a 12-month low of $72.13 and a 12-month high of $120.53.
In other Medtronic news, SVP Carol A. Surface sold 15,000 shares of Medtronic stock in a transaction that occurred on Monday, December 28th. The stock was sold at an average price of $114.90, for a total value of $1,723,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert John White sold 10,930 shares of Medtronic stock in a transaction that occurred on Friday, December 18th. The shares were sold at an average price of $115.46, for a total value of $1,261,977.80. Following the completion of the transaction, the executive vice president now owns 55,852 shares in the company, valued at $6,448,671.92. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Diversified LLC acquired a new stake in Medtronic in the fourth quarter valued at $25,000. Vantage Consulting Group Inc bought a new stake in shares of Medtronic in the 4th quarter valued at approximately $26,000. Concord Wealth Partners bought a new position in Medtronic during the fourth quarter worth $26,000. Safeguard Investment Advisory Group LLC bought a new stake in shares of Medtronic during the 4th quarter valued at about $26,000. Finally, Spectrum Management Group LLC lifted its holdings in Medtronic by 317.5% in the third quarter. Spectrum Management Group LLC now owns 263 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 79.17% 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.
Featured Article: Exchange-Traded Funds (ETFs)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.