Oppenheimer Research Analysts Decrease Earnings Estimates for Medtronic plc. (MDT)

Medtronic plc. (NYSE:MDT) – Equities research analysts at Oppenheimer cut their Q4 2018 earnings per share estimates for shares of Medtronic in a report released on Wednesday. Oppenheimer analyst S. Lichtman now anticipates that the medical technology company will earn $1.38 per share for the quarter, down from their prior estimate of $1.41. Oppenheimer has a “Buy” rating and a $94.00 price target on the stock.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.01. The business had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.20 billion. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $1.12 EPS.

Several other research firms have also recently weighed in on MDT. Needham & Company LLC reissued a “buy” rating and set a $94.00 price target on shares of Medtronic in a report on Thursday, November 9th. SunTrust Banks set a $92.00 price target on Medtronic and gave the stock a “buy” rating in a report on Sunday, November 19th. Evercore ISI initiated coverage on Medtronic in a report on Wednesday, January 3rd. They set an “outperform” rating and a $92.50 price target for the company. Citigroup reissued a “buy” rating and set a $93.00 price target (down from $100.00) on shares of Medtronic in a report on Thursday. Finally, BMO Capital Markets lifted their price target on Medtronic to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $90.85.

Medtronic (NYSE MDT) traded down $0.40 during trading hours on Friday, reaching $80.01. The company had a trading volume of 2,402,958 shares, compared to its average volume of 5,641,622. The firm has a market cap of $108,980.00, a PE ratio of 21.97, a P/E/G ratio of 2.21 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.05 and a current ratio of 2.43. Medtronic has a 1-year low of $76.51 and a 1-year high of $89.72.

Institutional investors and hedge funds have recently modified their holdings of the company. We Are One Seven LLC bought a new stake in Medtronic during the 4th quarter worth $104,000. BB&T Investment Services Inc. grew its position in Medtronic by 147.6% during the 4th quarter. BB&T Investment Services Inc. now owns 1,518 shares of the medical technology company’s stock worth $126,000 after acquiring an additional 905 shares during the last quarter. Blue Chip Partners Inc. bought a new stake in Medtronic during the 3rd quarter worth $118,000. Quadrant Capital Group LLC grew its position in Medtronic by 21.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after acquiring an additional 290 shares during the last quarter. Finally, Westwood Holdings Group Inc. bought a new stake in Medtronic during the 2nd quarter worth $151,000. Institutional investors own 79.83% of the company’s stock.

In other news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction on Friday, December 15th. The stock was sold at an average price of $82.82, for a total value of $1,325,120.00. Following the transaction, the executive vice president now owns 88,818 shares in the company, valued at approximately $7,355,906.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Hooman Hakami sold 26,158 shares of Medtronic stock in a transaction on Friday, January 5th. The shares were sold at an average price of $85.00, for a total value of $2,223,430.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,684 shares of company stock worth $10,318,276. Corporate 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.

Earnings History and Estimates for Medtronic (NYSE:MDT)

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