Brokerages Anticipate Medtronic (MDT) to Announce $1.38 Earnings Per Share

Wall Street brokerages expect that Medtronic (NYSE:MDT) will announce $1.38 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Medtronic’s earnings. The highest EPS estimate is $1.40 and the lowest is $1.37. Medtronic posted earnings per share of $1.33 during the same quarter last year, which would suggest a positive year over year growth rate of 3.8%. The company is expected to announce its next quarterly earnings results on Thursday, May 24th.

On average, analysts expect that Medtronic will report full-year earnings of $4.74 per share for the current year, with EPS estimates ranging from $4.72 to $4.80. For the next financial year, analysts anticipate that the company will report earnings of $5.15 per share, with EPS estimates ranging from $5.10 to $5.28. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Medtronic.

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



Several analysts have commented on the stock. Oppenheimer reiterated a “buy” rating on shares of Medtronic in a research note on Tuesday, March 20th. Citigroup reiterated a “buy” rating and issued a $93.00 price target (down previously from $100.00) on shares of Medtronic in a research note on Thursday, February 22nd. TheStreet cut shares of Medtronic from a “b” rating to a “c+” rating in a research note on Tuesday, February 20th. Evercore ISI assumed coverage on shares of Medtronic in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $92.50 target price on the stock. Finally, Morgan Stanley upped their target price on shares of Medtronic from $91.00 to $95.00 and gave the company an “equal weight” rating in a research report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $91.24.

MDT stock traded down $0.10 during mid-day trading on Friday, hitting $79.90. The company had a trading volume of 3,686,891 shares, compared to its average volume of 4,645,961. The stock has a market cap of $108,429.84, a P/E ratio of 17.37, a PEG ratio of 2.38 and a beta of 0.94. Medtronic has a 12-month low of $76.41 and a 12-month high of $89.72. The company has a quick ratio of 2.09, a current ratio of 2.43 and a debt-to-equity ratio of 0.51.

The company also recently declared a quarterly dividend, which was paid on Friday, April 13th. Investors of record on Friday, March 23rd were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, March 22nd. This represents a $1.84 annualized dividend and a yield of 2.30%. Medtronic’s payout ratio is 40.00%.

In related news, Director James T. Lenehan sold 1,306 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $83.56, for a total transaction of $109,129.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Carol A. Surface sold 24,479 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $78.18, for a total transaction of $1,913,768.22. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Large investors have recently modified their holdings of the stock. We Are One Seven LLC bought a new position in Medtronic during the 4th quarter valued at about $104,000. Blue Chip Partners Inc. bought a new position in Medtronic in the 3rd quarter worth about $118,000. BB&T Investment Services Inc. grew its stake in Medtronic by 147.6% in 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 in the last quarter. Barrett Asset Management LLC grew its stake in Medtronic by 856.0% in the 4th quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock worth $147,000 after acquiring an additional 1,635 shares in the last quarter. Finally, SevenBridge Financial Group LLC grew its stake in Medtronic by 76.2% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,197 shares of the medical technology company’s stock worth $171,000 after acquiring an additional 950 shares in the last quarter. Institutional investors own 81.20% of the company’s stock.

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Medtronic Company Profile

Medtronic plc manufactures and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. The company's Cardiac and Vascular Group segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; diagnostics and monitoring devices; mechanical circulatory support, TYRX, and AF products; and remote monitoring and patient-centered software.

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Earnings History and Estimates for Medtronic (NYSE:MDT)

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