Medtronic plc. (MDT) Forecasted to Earn FY2018 Earnings of $4.74 Per Share
Medtronic plc. (NYSE:MDT) – Equities researchers at William Blair cut their FY2018 earnings estimates for Medtronic in a research note issued to investors on Tuesday. William Blair analyst K. Krum now expects that the medical technology company will earn $4.74 per share for the year, down from their previous estimate of $4.75. William Blair also issued estimates for Medtronic’s Q3 2019 earnings at $1.29 EPS.
Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.01. The company had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.20 billion. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The company’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.12 earnings per share.
Shares of Medtronic (NYSE:MDT) opened at $80.39 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.05 and a current ratio of 2.43. The firm has a market cap of $108,980.00, a P/E ratio of 22.09, a P/E/G ratio of 2.23 and a beta of 0.93. Medtronic has a 12 month low of $76.51 and a 12 month high of $89.72.
Institutional investors have recently added to or reduced their stakes in the company. We Are One Seven LLC acquired a new position in shares of Medtronic in the fourth quarter valued at approximately $104,000. Quadrant Capital Group LLC boosted its holdings in shares of Medtronic by 21.5% in the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after buying an additional 290 shares during the period. Blue Chip Partners Inc. acquired a new position in shares of Medtronic in the third quarter valued at approximately $118,000. BB&T Investment Services Inc. boosted its holdings in shares of Medtronic by 147.6% in the fourth quarter. BB&T Investment Services Inc. now owns 1,518 shares of the medical technology company’s stock valued at $126,000 after buying an additional 905 shares during the period. Finally, Barrett Asset Management LLC boosted its holdings in shares of Medtronic by 856.0% in the fourth quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock valued at $147,000 after buying an additional 1,635 shares during the period. Institutional investors own 79.83% of the company’s stock.
In other Medtronic news, EVP Hooman Hakami sold 26,158 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $85.00, for a total value of $2,223,430.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the completion of the sale, the executive vice president now directly owns 88,818 shares of the company’s stock, valued at approximately $7,355,906.76. The disclosure for this sale can be found here. Insiders sold 120,684 shares of company stock valued at $10,318,276 in the last ninety days. Insiders own 0.31% of the company’s stock.
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Medtronic 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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