Brokerages predict that Medtronic PLC (NYSE:MDT) will announce sales of $7.23 billion for the current fiscal quarter, according to Zacks. Eleven analysts have made estimates for Medtronic’s earnings, with estimates ranging from $7.14 billion to $7.30 billion. Medtronic posted sales of $7.39 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 2.2%. The firm is expected to report its next quarterly earnings results before the market opens on Tuesday, August 21st.

According to Zacks, analysts expect that Medtronic will report full-year sales of $30.57 billion for the current financial year, with estimates ranging from $30.40 billion to $30.67 billion. For the next year, analysts anticipate that the business will post sales of $31.97 billion per share, with estimates ranging from $31.74 billion to $32.34 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Medtronic.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Thursday, May 24th. The medical technology company reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.03. Medtronic had a return on equity of 12.84% and a net margin of 10.36%. The company had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8 billion. During the same quarter in the previous year, the business earned $1.33 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis.

A number of brokerages have weighed in on MDT. Needham & Company LLC upgraded Medtronic from a “buy” rating to a “strong-buy” rating and boosted their price objective for the company from $103.00 to $119.00 in a research note on Monday, August 13th. Zacks Investment Research cut Medtronic from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Piper Jaffray Companies boosted their price objective on Medtronic to $96.00 and gave the company an “overweight” rating in a research note on Friday, May 25th. Morgan Stanley boosted their price objective on Medtronic from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, May 25th. Finally, Sanford C. Bernstein began coverage on Medtronic in a research note on Wednesday, June 27th. They issued a “market perform” rating and a $88.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $93.24.

In other news, SVP Bradley E. Lerman sold 8,910 shares of the company’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $86.82, for a total transaction of $773,566.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard Kuntz sold 11,500 shares of the company’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $87.13, for a total value of $1,001,995.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in MDT. BlackRock Inc. grew its holdings in Medtronic by 2.1% during 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 during the period. Bank of New York Mellon Corp grew its holdings in Medtronic by 11.3% during the second quarter. Bank of New York Mellon Corp now owns 15,717,199 shares of the medical technology company’s stock worth $1,345,549,000 after acquiring an additional 1,589,932 shares during the period. Rockefeller Capital Management L.P. acquired a new position in Medtronic during the first quarter worth $109,787,000. Westwood Holdings Group Inc. acquired a new position in Medtronic during the first quarter worth $105,098,000. Finally, Artisan Partners Limited Partnership grew its holdings in Medtronic by 4.2% during the second quarter. Artisan Partners Limited Partnership now owns 23,443,933 shares of the medical technology company’s stock worth $2,007,035,000 after acquiring an additional 939,892 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

NYSE MDT traded down $0.50 on Thursday, reaching $90.60. The stock had a trading volume of 8,878,156 shares, compared to its average volume of 4,961,834. The company has a current ratio of 2.28, a quick ratio of 1.92 and a debt-to-equity ratio of 0.47. Medtronic has a 12-month low of $76.41 and a 12-month high of $91.50. The stock has a market cap of $122.46 billion, a P/E ratio of 18.99, a P/E/G ratio of 2.46 and a beta of 0.94.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 25th. Stockholders of record on Friday, July 6th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Thursday, July 5th. This is a boost from Medtronic’s previous quarterly dividend of $0.46. Medtronic’s dividend payout ratio is 41.93%.

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.

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Earnings History and Estimates for Medtronic (NYSE:MDT)

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