Medtronic PLC (NYSE:MDT) – Investment analysts at William Blair issued their Q1 2018 earnings estimates for shares of Medtronic PLC in a note issued to investors on Thursday. William Blair analyst K. Krum forecasts that the medical technology company will earn $1.08 per share for the quarter. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Medtronic PLC’s Q2 2018 earnings at $1.18 EPS, Q3 2018 earnings at $1.22 EPS, Q4 2018 earnings at $1.45 EPS and FY2018 earnings at $4.93 EPS.
Medtronic PLC (NYSE:MDT) last announced its earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. The firm had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.86 billion. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.27 EPS.
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MDT has been the subject of several other reports. Morgan Stanley increased their price objective on Medtronic PLC from $84.00 to $86.00 and gave the company an “equal weight” rating in a report on Tuesday, May 30th. Evercore ISI increased their price objective on Medtronic PLC from $88.00 to $88.50 and gave the company an “outperform” rating in a report on Wednesday, April 19th. BTIG Research reissued a “neutral” rating on shares of Medtronic PLC in a report on Monday, March 20th. Needham & Company LLC reissued a “buy” rating and issued a $95.00 price objective (up from $91.00) on shares of Medtronic PLC in a report on Thursday, May 25th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Medtronic PLC in a report on Wednesday, March 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $88.88.
Shares of Medtronic PLC (NYSE MDT) opened at 87.96 on Monday. The company’s 50-day moving average is $86.21 and its 200 day moving average is $80.30. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72. The company has a market cap of $119.54 billion, a price-to-earnings ratio of 30.44 and a beta of 1.04.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ally Financial Inc. purchased a new position in shares of Medtronic PLC during the fourth quarter worth $2,493,000. Loomis Sayles & Co. L P boosted its position in shares of Medtronic PLC by 12.4% in the fourth quarter. Loomis Sayles & Co. L P now owns 841,290 shares of the medical technology company’s stock worth $59,925,000 after buying an additional 92,907 shares in the last quarter. Atria Investments LLC boosted its position in shares of Medtronic PLC by 39.0% in the first quarter. Atria Investments LLC now owns 9,233 shares of the medical technology company’s stock worth $744,000 after buying an additional 2,591 shares in the last quarter. Castleark Management LLC boosted its position in shares of Medtronic PLC by 12.3% in the fourth quarter. Castleark Management LLC now owns 583,746 shares of the medical technology company’s stock worth $41,580,000 after buying an additional 64,076 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. boosted its position in shares of Medtronic PLC by 1.1% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 33,439 shares of the medical technology company’s stock worth $2,382,000 after buying an additional 356 shares in the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.
In other news, Director Richard H. Anderson purchased 5,600 shares of the company’s stock in a transaction dated Wednesday, June 21st. The stock was acquired at an average price of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the transaction, the director now directly owns 71,910 shares in the company, valued at approximately $6,392,799. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th will be given a $0.46 dividend. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.84 annualized dividend and a yield of 2.09%. Medtronic PLC’s dividend payout ratio is presently 63.67%.
About Medtronic PLC
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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