Q3 2022 EPS Estimates for Medtronic plc (NYSE:MDT) Lowered by William Blair

Medtronic plc (NYSE:MDT) – Analysts at William Blair dropped their Q3 2022 earnings per share (EPS) estimates for Medtronic in a research note issued to investors on Wednesday, November 24th. William Blair analyst M. Kaczor now expects that the medical technology company will post earnings of $1.37 per share for the quarter, down from their previous forecast of $1.39. William Blair also issued estimates for Medtronic’s FY2022 earnings at $5.70 EPS, Q4 2023 earnings at $1.72 EPS and FY2023 earnings at $6.20 EPS.

Several other equities research analysts have also recently weighed in on MDT. Oppenheimer reduced their price objective on Medtronic from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Wednesday. Argus increased their price target on Medtronic from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 27th. Raymond James raised their target price on Medtronic from $135.00 to $142.00 and gave the company an “outperform” rating in a research report on Wednesday, August 25th. Citigroup decreased their price target on shares of Medtronic from $153.00 to $146.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, BTIG Research lowered shares of Medtronic from a “buy” rating to a “neutral” rating in a research report on Monday, August 9th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $144.15.

NYSE:MDT opened at $114.44 on Thursday. The stock has a 50-day simple moving average of $122.83 and a two-hundred day simple moving average of $126.09. Medtronic has a 52-week low of $110.06 and a 52-week high of $135.89. The firm has a market capitalization of $153.80 billion, a PE ratio of 40.01, a P/E/G ratio of 3.09 and a beta of 0.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.34 and a current ratio of 2.89.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 23rd. The medical technology company reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.03. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.98 billion. Medtronic had a return on equity of 13.85% and a net margin of 12.29%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.02 earnings per share.

A number of institutional investors have recently modified their holdings of the stock. Ibex Wealth Advisors purchased a new stake in shares of Medtronic during the 3rd quarter valued at approximately $26,000. MD Financial Management Inc. raised its holdings in shares of Medtronic by 100.0% in the third quarter. MD Financial Management Inc. now owns 210 shares of the medical technology company’s stock valued at $26,000 after buying an additional 105 shares during the last quarter. Mascoma Wealth Management LLC purchased a new stake in shares of Medtronic in the third quarter valued at about $34,000. Selective Wealth Management Inc. raised its holdings in Medtronic by 459.2% during the third quarter. Selective Wealth Management Inc. now owns 274 shares of the medical technology company’s stock worth $34,000 after purchasing an additional 225 shares in the last quarter. Finally, Corbenic Partners LLC raised its holdings in Medtronic by 264.2% during the second quarter. Corbenic Partners LLC now owns 295 shares of the medical technology company’s stock worth $37,000 after purchasing an additional 214 shares in the last quarter. 79.58% of the stock is currently owned by hedge funds and other institutional investors.

In other news, SVP Bradley E. Lerman sold 49,147 shares of the company’s stock in a transaction that occurred on Thursday, September 30th. The stock was sold at an average price of $126.58, for a total transaction of $6,221,027.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Bradley E. Lerman sold 50,775 shares of the company’s stock in a transaction on Tuesday, August 31st. The stock was sold at an average price of $134.17, for a total value of $6,812,481.75. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

About Medtronic

Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiac and Vascular Group; Minimally Invasive Technologies Group; Restorative Therapies Group; and Diabetes Group.

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Earnings History and Estimates for Medtronic (NYSE:MDT)

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