Medtronic PLC Expected to Post Q3 2018 Earnings of $1.23 Per Share (MDT)
Medtronic PLC (NYSE:MDT) – Equities researchers at Leerink Swann raised their Q3 2018 earnings estimates for shares of Medtronic PLC in a research note issued to investors on Tuesday. Leerink Swann analyst D. Antalffy now anticipates that the medical technology company will post earnings per share of $1.23 for the quarter, up from their prior estimate of $1.19. Leerink Swann currently has a “Market Perform” rating and a $85.00 target price on the stock.
Several other brokerages also recently commented on MDT. Zacks Investment Research downgraded Medtronic PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Deutsche Bank AG set a $96.00 target price on Medtronic PLC and gave the company a “buy” rating in a report on Monday, July 31st. BidaskClub downgraded Medtronic PLC from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Cowen Inc set a $95.00 price objective on Medtronic PLC and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and set a $92.00 price objective on shares of Medtronic PLC in a report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $88.02.
Shares of Medtronic PLC (MDT) traded up $0.97 during trading hours on Thursday, hitting $83.31. The company had a trading volume of 2,283,825 shares, compared to its average volume of 4,935,842. The stock has a market cap of $111,454.77, a P/E ratio of 17.75, a P/E/G ratio of 2.17 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 PLC has a 1-year low of $69.35 and a 1-year high of $89.72.
Medtronic PLC (NYSE:MDT) last announced its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $7.05 billion. Medtronic PLC had a return on equity of 12.63% and a net margin of 16.93%. The company’s revenue was down 4.0% on a year-over-year basis. During the same period last year, the business posted $1.12 EPS.
Hedge funds have recently made changes to their positions in the business. Parkside Financial Bank & Trust boosted its position in Medtronic PLC by 22.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after acquiring an additional 210 shares during the period. BDO Wealth Advisors LLC acquired a new position in Medtronic PLC during the 2nd quarter worth $103,000. Motco boosted its position in Medtronic PLC by 8.7% during the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after acquiring an additional 99 shares during the period. Quadrant Capital Group LLC boosted its position in Medtronic PLC by 21.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after acquiring an additional 290 shares during the period. Finally, Israel Discount Bank of New York acquired a new position in Medtronic PLC during the 1st quarter worth $117,000. Institutional investors own 81.14% of the company’s stock.
In related news, CEO Omar Ishrak sold 140,407 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The disclosure for this sale can be found here. Insiders have sold a total of 172,407 shares of company stock valued at $13,974,223 in the last 90 days. Insiders own 0.31% of the company’s stock.
Medtronic PLC 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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