Medtronic PLC (NYSE:MDT) – Leerink Swann issued their Q1 2019 earnings per share estimates for Medtronic in a research report issued on Wednesday. Leerink Swann analyst D. Antalffy expects that the medical technology company will post earnings per share of $1.24 for the quarter. Leerink Swann has a “Market Perform” rating and a $85.00 price objective on the stock. Leerink Swann also issued estimates for Medtronic’s Q2 2019 earnings at $1.21 EPS, Q3 2019 earnings at $1.27 EPS and Q4 2019 earnings at $1.43 EPS.
A number of other brokerages have also recently weighed in on MDT. Needham & Company LLC reissued a “buy” rating and issued a $94.00 price target on shares of Medtronic in a research note on Thursday, November 9th. BidaskClub cut Medtronic from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Zacks Investment Research cut Medtronic from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. SunTrust Banks set a $92.00 price target on Medtronic and gave the stock a “buy” rating in a research note on Sunday, November 19th. Finally, Royal Bank Of Canada dropped their price target on Medtronic from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company. Medtronic presently has a consensus rating of “Hold” and a consensus price target of $88.02.
Medtronic (NYSE:MDT) last issued its quarterly 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 firm had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the previous year, the business earned $1.12 earnings per share. Medtronic’s revenue for the quarter was down 4.0% compared to the same quarter last year.
A number of large investors have recently added to or reduced their stakes in MDT. Vanguard Group Inc. grew its stake in shares of Medtronic by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock valued at $9,298,872,000 after buying an additional 2,454,380 shares in the last quarter. BlackRock Inc. grew its stake in shares of Medtronic by 2.8% in the 2nd quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock valued at $7,944,210,000 after buying an additional 2,476,853 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Medtronic by 3.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock valued at $4,724,526,000 after buying an additional 1,729,715 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Medtronic by 1.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 23,853,034 shares of the medical technology company’s stock valued at $1,855,050,000 after buying an additional 269,814 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Medtronic by 43.8% in the 2nd quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock valued at $1,745,699,000 after buying an additional 5,991,094 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors.
In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $79.02, for a total transaction of $1,264,320.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of Medtronic stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the transaction, the chief executive officer now directly owns 668,503 shares in the company, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 172,407 shares of company stock worth $13,974,223. Company insiders own 0.31% of the company’s stock.
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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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