$1.14 Earnings Per Share Expected for Medtronic PLC (MDT) This Quarter
Wall Street brokerages expect Medtronic PLC (NYSE:MDT) to post $1.14 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Medtronic’s earnings, with estimates ranging from $1.14 to $1.16. Medtronic reported earnings per share of $1.07 in the same quarter last year, which suggests a positive year over year growth rate of 6.5%. The business is expected to report its next earnings report on Tuesday, November 20th.
On average, analysts expect that Medtronic will report full year earnings of $5.12 per share for the current fiscal year, with EPS estimates ranging from $5.10 to $5.14. For the next year, analysts expect that the firm will post earnings of $5.56 per share, with EPS estimates ranging from $5.46 to $5.68. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Medtronic.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.06. The company had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $7.24 billion. Medtronic had a return on equity of 12.98% and a net margin of 10.56%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 earnings per share.
In other Medtronic news, EVP Michael J. Coyle sold 145,544 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $95.50, for a total value of $13,899,452.00. Following the transaction, the executive vice president now owns 190,680 shares in the company, valued at $18,209,940. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard H. Anderson purchased 2,600 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was purchased at an average price of $95.88 per share, for a total transaction of $249,288.00. The disclosure for this purchase can be found here. In the last quarter, insiders sold 218,879 shares of company stock worth $20,941,537. Corporate insiders own 0.28% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in Medtronic by 2.1% in the second quarter. BlackRock Inc. now owns 97,867,667 shares of the medical technology company’s stock worth $8,378,448,000 after acquiring an additional 1,966,789 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Medtronic by 4.2% in the second quarter. Artisan Partners Limited Partnership now owns 23,443,933 shares of the medical technology company’s stock valued at $2,007,035,000 after purchasing an additional 939,892 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Medtronic by 11.3% in the second quarter. Bank of New York Mellon Corp now owns 15,717,199 shares of the medical technology company’s stock valued at $1,345,549,000 after purchasing an additional 1,589,932 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Medtronic by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,884,401 shares of the medical technology company’s stock valued at $760,649,000 after purchasing an additional 394,973 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Medtronic by 2.3% in the first quarter. The Manufacturers Life Insurance Company now owns 7,182,755 shares of the medical technology company’s stock valued at $576,200,000 after purchasing an additional 159,941 shares in the last quarter. Institutional investors and hedge funds own 79.85% of the company’s stock.
NYSE MDT traded up $1.01 during trading hours on Monday, hitting $98.86. 5,703,100 shares of the company’s stock were exchanged, compared to its average volume of 5,005,681. Medtronic has a 1-year low of $76.41 and a 1-year high of $98.96. The stock has a market capitalization of $132.15 billion, a P/E ratio of 20.70, a P/E/G ratio of 2.60 and a beta of 0.92. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.46 and a quick ratio of 2.06.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 19th. Shareholders of record on Friday, September 28th will be issued a $0.50 dividend. The ex-dividend date is Thursday, September 27th. This represents a $2.00 annualized dividend and a yield of 2.02%. Medtronic’s payout ratio is currently 41.93%.
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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