$8.12 Billion in Sales Expected for Medtronic PLC (MDT) This Quarter

Equities analysts expect Medtronic PLC (NYSE:MDT) to report sales of $8.12 billion for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have provided estimates for Medtronic’s earnings, with estimates ranging from $8.09 billion to $8.20 billion. Medtronic reported sales of $8.14 billion in the same quarter last year, which would suggest a negative year over year growth rate of 0.2%. The company is expected to issue its next earnings report on Thursday, May 23rd.

On average, analysts expect that Medtronic will report full-year sales of $30.53 billion for the current fiscal year, with estimates ranging from $30.50 billion to $30.61 billion. For the next financial year, analysts forecast that the firm will report sales of $31.73 billion, with estimates ranging from $31.39 billion to $32.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Medtronic.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.05. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter last year, the business earned $1.17 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year.

MDT has been the topic of several research analyst reports. Barclays reiterated a “buy” rating and issued a $104.00 target price on shares of Medtronic in a research report on Wednesday, February 20th. Oppenheimer set a $104.00 target price on shares of Medtronic and gave the company a “buy” rating in a research report on Wednesday, February 20th. BTIG Research upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Tuesday, January 15th. Deutsche Bank initiated coverage on shares of Medtronic in a research report on Wednesday, January 2nd. They issued a “buy” rating and a $99.00 target price on the stock. Finally, Morgan Stanley lifted their target price on shares of Medtronic from $98.00 to $102.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 2nd. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Medtronic currently has a consensus rating of “Buy” and a consensus target price of $103.43.

Shares of NYSE MDT opened at $88.45 on Thursday. Medtronic has a 52-week low of $76.92 and a 52-week high of $100.15. The stock has a market capitalization of $121.29 billion, a PE ratio of 18.54, a P/E/G ratio of 2.19 and a beta of 0.81. The company has a current ratio of 2.36, a quick ratio of 1.92 and a debt-to-equity ratio of 0.47.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.26%. Medtronic’s payout ratio is presently 41.93%.

In other news, CEO Omar Ishrak bought 12,000 shares of the firm’s stock in a transaction on Wednesday, January 9th. The shares were bought at an average cost of $84.05 per share, for a total transaction of $1,008,600.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Karen L. Parkhill bought 3,000 shares of the firm’s stock in a transaction on Wednesday, January 9th. The stock was purchased at an average price of $83.87 per share, for a total transaction of $251,610.00. The disclosure for this purchase can be found here. Insiders own 0.28% of the company’s stock.

Large investors have recently bought and sold shares of the business. Tributary Capital Management LLC acquired a new position in Medtronic in the 4th quarter valued at about $27,000. Pin Oak Investment Advisors Inc. boosted its holdings in Medtronic by 158.0% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock valued at $34,000 after purchasing an additional 226 shares during the last quarter. Highwater Wealth Management LLC acquired a new position in Medtronic in the 4th quarter valued at about $39,000. IMS Capital Management acquired a new position in Medtronic in the 3rd quarter valued at about $41,000. Finally, Capital Financial Planning LLC acquired a new position in Medtronic in the 4th quarter valued at about $42,000. Institutional investors own 81.50% of the company’s stock.

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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