Medtronic (MDT) Releases FY 2020 Earnings Guidance

Medtronic (NYSE:MDT) issued an update on its FY 2020 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $5.44-5.50 for the period, compared to the Thomson Reuters consensus estimate of $5.44. The company issued revenue guidance of $31.779-31.779 billion, compared to the consensus revenue estimate of $31.7 billion.Medtronic also updated its FY20 guidance to $5.44-5.50 EPS.

NYSE MDT traded up $1.56 during trading on Thursday, reaching $90.32. 232,378 shares of the company’s stock traded hands, compared to its average volume of 4,874,998. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.92 and a current ratio of 2.36. The company has a market capitalization of $117.71 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 2.18 and a beta of 0.78. Medtronic has a 12-month low of $81.66 and a 12-month high of $100.15.

Medtronic (NYSE:MDT) last posted its earnings results on Thursday, May 23rd. The medical technology company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.07. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.12 billion. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $1.42 EPS. Equities analysts expect that Medtronic will post 5.15 earnings per share for the current fiscal year.

MDT has been the topic of a number of research reports. Needham & Company LLC reissued a strong-buy rating and set a $117.00 target price (down previously from $120.00) on shares of Medtronic in a research report on Monday, February 4th. 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. Wells Fargo & Co cut their price objective on shares of Medtronic from $101.00 to $100.00 and set a market perform rating on the stock in a research report on Thursday, April 4th. Citigroup lifted their price objective on shares of Medtronic from $95.00 to $101.00 and gave the stock a neutral rating in a research report on Monday, February 25th. Finally, Barclays reaffirmed a buy rating and issued a $104.00 price objective on shares of Medtronic in a research report on Wednesday, February 20th. Ten research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Medtronic presently has an average rating of Buy and an average target price of $103.39.

ILLEGAL ACTIVITY WARNING: This piece of content was first published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this piece of content can be accessed at

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.

See Also: Key terms to understand channel trading

Earnings History and Estimates for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with's FREE daily email newsletter.