Q2 2019 Earnings Forecast for Medtronic plc. Issued By Leerink Swann (MDT)

Medtronic plc. (NYSE:MDT) – Equities research analysts at Leerink Swann increased their Q2 2019 EPS estimates for Medtronic in a research report issued on Monday, Zacks Investment Research reports. Leerink Swann analyst D. Antalffy now expects that the medical technology company will earn $1.24 per share for the quarter, up from their prior estimate of $1.21. Leerink Swann also issued estimates for Medtronic’s Q3 2019 earnings at $1.23 EPS, FY2020 earnings at $5.60 EPS and FY2021 earnings at $6.05 EPS.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The business had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same period last year, the company earned $1.12 EPS. The firm’s revenue was down 4.0% compared to the same quarter last year.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada restated an “outperform” rating and set a $92.00 price target on shares of Medtronic in a report on Wednesday. SunTrust Banks reiterated a “buy” rating and issued a $96.00 price objective on shares of Medtronic in a research note on Friday, November 3rd. Stifel Nicolaus lifted their price objective on shares of Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, November 22nd. Argus upgraded shares of Medtronic from a “hold” rating to a “buy” rating and lifted their price objective for the company from $81.27 to $95.00 in a research note on Tuesday, December 12th. They noted that the move was a valuation call. Finally, Oppenheimer restated a “buy” rating and set a $94.00 price target on shares of Medtronic in a research note on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $90.45.

Shares of Medtronic (NYSE MDT) opened at $81.86 on Tuesday. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50. Medtronic has a 1 year low of $76.51 and a 1 year high of $89.72. The company has a market cap of $108,577.60, a P/E ratio of 22.43, a P/E/G ratio of 2.21 and a beta of 0.93.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Thursday, December 28th. Medtronic’s dividend payout ratio (DPR) is presently 50.41%.

In other news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the sale, the executive vice president now directly owns 88,818 shares in the company, valued at $7,355,906.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the completion of the transaction, the vice president now owns 149,761 shares in the company, valued at $12,910,895.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 120,684 shares of company stock worth $10,318,276. Insiders own 0.31% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Medtronic by 2.4% in the second quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after acquiring an additional 2,454,380 shares during the period. BlackRock Inc. raised its holdings in Medtronic by 6.4% in the fourth quarter. BlackRock Inc. now owns 94,595,580 shares of the medical technology company’s stock worth $7,638,592,000 after purchasing an additional 5,688,180 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in Medtronic by 1.1% in the third quarter. Artisan Partners Limited Partnership now owns 23,853,034 shares of the medical technology company’s stock worth $1,855,050,000 after purchasing an additional 269,814 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Medtronic by 43.8% in the second quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after purchasing an additional 5,991,094 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Medtronic by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 14,191,675 shares of the medical technology company’s stock worth $1,143,549,000 after purchasing an additional 351,256 shares in the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

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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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Earnings History and Estimates for Medtronic (NYSE:MDT)

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