Todays Report: Today, Brokers Issue Forecasts for Medtronic PLC’s Q3 2017 Earnings (MDT)

Today, Brokers Issue Forecasts for Medtronic PLC’s Q3 2017 Earnings (MDT)

Medtronic PLC (NYSE:MDT) – Stock analysts at Wedbush dropped their Q3 2017 earnings estimates for shares of Medtronic PLC in a research note issued on Wednesday. Wedbush analyst Levy. T now anticipates that the brokerage will earn $1.11 per share for the quarter, down from their prior forecast of $1.12. Wedbush also issued estimates for Medtronic PLC’s Q4 2017 earnings at $1.32 EPS and FY2017 earnings at $4.57 EPS.

Several other equities analysts have also recently weighed in on the company. Vetr cut Medtronic PLC from a “strong-buy” rating to a “buy” rating and set a $91.28 target price on the stock. in a research note on Monday. Zacks Investment Research cut Medtronic PLC from a “buy” rating to a “hold” rating in a research note on Friday, November 11th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $92.00 target price on shares of Medtronic PLC in a research note on Thursday, August 25th. Citigroup Inc. initiated coverage on Medtronic PLC in a research note on Tuesday, August 23rd. They set a “buy” rating and a $102.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 target price (down previously from $95.00) on shares of Medtronic PLC in a research note on Tuesday. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Medtronic PLC currently has an average rating of “Buy” and a consensus price target of $88.47.

Shares of Medtronic PLC (NYSE:MDT) opened at 75.78 on Thursday. The stock has a market cap of $104.72 billion, a price-to-earnings ratio of 29.49 and a beta of 1.01. The stock’s 50 day moving average is $82.26 and its 200-day moving average is $84.71. Medtronic PLC has a 1-year low of $71.03 and a 1-year high of $89.27.

Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.46 billion. Medtronic PLC had a net margin of 14.63% and a return on equity of 12.30%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 earnings per share.

Several hedge funds have recently made changes to their positions in MDT. The Manufacturers Life Insurance Company acquired a new stake in shares of Medtronic PLC during the third quarter valued at approximately $429,674,000. Emerald Acquisition Ltd. acquired a new stake in shares of Medtronic PLC during the second quarter valued at approximately $363,065,000. Janus Capital Management LLC boosted its stake in shares of Medtronic PLC by 356.8% in the second quarter. Janus Capital Management LLC now owns 4,004,962 shares of the medical technology company’s stock valued at $347,508,000 after buying an additional 3,128,250 shares during the last quarter. Standard Life Investments LTD boosted its stake in shares of Medtronic PLC by 4,597.8% in the second quarter. Standard Life Investments LTD now owns 2,419,371 shares of the medical technology company’s stock valued at $209,954,000 after buying an additional 2,367,871 shares during the last quarter. Finally, Tesco Pension Investment Ltd acquired a new stake in shares of Medtronic PLC during the third quarter valued at approximately $198,656,000. Institutional investors own 81.25% of the company’s stock.

In other news, VP Richard Kuntz sold 25,199 shares of the stock in a transaction on Monday, September 26th. The stock was sold at an average price of $86.67, for a total transaction of $2,183,997.33. Following the sale, the vice president now owns 149,425 shares in the company, valued at $12,950,664.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bryan C. Hanson sold 15,000 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $87.00, for a total value of $1,305,000.00. Following the sale, the executive vice president now owns 168,192 shares in the company, valued at approximately $14,632,704. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

About Medtronic PLC

Related posts

Leave a Comment