Medtronic plc (NYSE:MDT) Expected to Announce Earnings of $1.15 Per Share

Equities research analysts expect Medtronic plc (NYSE:MDT) to report $1.15 earnings per share for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Medtronic’s earnings, with the highest EPS estimate coming in at $1.17 and the lowest estimate coming in at $1.11. Medtronic reported earnings per share of $1.44 during the same quarter last year, which would indicate a negative year over year growth rate of 20.1%. The company is expected to issue its next earnings report before the market opens on Tuesday, February 23rd.

On average, analysts expect that Medtronic will report full year earnings of $4.21 per share for the current year, with EPS estimates ranging from $4.14 to $4.29. For the next financial year, analysts expect that the business will post earnings of $5.82 per share, with EPS estimates ranging from $5.63 to $6.04. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Medtronic.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 23rd. The medical technology company reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.14. The firm had revenue of $7.78 billion for the quarter, compared to analysts’ expectations of $7.77 billion. Medtronic had a net margin of 12.69% and a return on equity of 9.71%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company posted $1.44 EPS.

Several analysts have recently weighed in on MDT shares. Wells Fargo & Company raised their price objective on shares of Medtronic from $118.00 to $127.00 and gave the company an “overweight” rating in a research report on Wednesday, November 18th. Truist lifted their target price on shares of Medtronic to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, November 25th. Credit Suisse Group raised their price target on shares of Medtronic from $118.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, November 25th. Smith Barney Citigroup raised their price target on shares of Medtronic from $120.00 to $128.00 in a report on Wednesday, November 25th. Finally, BTIG Research raised their price target on shares of Medtronic from $119.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, November 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $120.93.

In other Medtronic news, EVP Robert John White sold 10,930 shares of Medtronic stock in a transaction that occurred on Friday, December 18th. The shares were sold at an average price of $115.46, for a total value of $1,261,977.80. Following the completion of the sale, the executive vice president now owns 55,852 shares of the company’s stock, valued at approximately $6,448,671.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Carol A. Surface sold 15,000 shares of the business’s stock in a transaction on Monday, December 28th. The shares were sold at an average price of $114.90, for a total transaction of $1,723,500.00. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Meridian Wealth Management LLC lifted its stake in shares of Medtronic by 34.1% in the 4th quarter. Meridian Wealth Management LLC now owns 3,566 shares of the medical technology company’s stock worth $417,000 after purchasing an additional 906 shares during the period. Toth Financial Advisory Corp grew its position in shares of Medtronic by 2.0% during the 4th quarter. Toth Financial Advisory Corp now owns 63,711 shares of the medical technology company’s stock valued at $7,463,000 after acquiring an additional 1,241 shares during the period. RNC Capital Management LLC purchased a new stake in shares of Medtronic in the 4th quarter worth $2,249,000. Peapack Gladstone Financial Corp raised its holdings in Medtronic by 0.9% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 50,583 shares of the medical technology company’s stock worth $5,256,000 after purchasing an additional 433 shares during the period. Finally, First City Capital Management Inc. raised its holdings in Medtronic by 88.9% in the 3rd quarter. First City Capital Management Inc. now owns 13,157 shares of the medical technology company’s stock worth $1,415,000 after purchasing an additional 6,191 shares during the period. Institutional investors own 79.17% of the company’s stock.

Shares of Medtronic stock traded up $2.93 on Tuesday, hitting $118.68. 358,475 shares of the company traded hands, compared to its average volume of 4,571,249. The firm’s 50-day simple moving average is $116.82 and its 200 day simple moving average is $110.18. The company has a current ratio of 2.16, a quick ratio of 1.79 and a debt-to-equity ratio of 0.52. The company has a market cap of $159.75 billion, a P/E ratio of 44.18, a P/E/G ratio of 3.65 and a beta of 0.70. Medtronic has a 12-month low of $72.13 and a 12-month high of $120.53.

About Medtronic

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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