Trading Report: Today, FY2017 EPS Estimates for Medtronic PLC (MDT) Cut by Analyst

Today, FY2017 EPS Estimates for Medtronic PLC (MDT) Cut by Analyst

Medtronic PLC (NYSE:MDT) – Investment analysts at William Blair dropped their FY2017 EPS estimates for shares of Medtronic PLC in a report released on Wednesday. William Blair analyst B. Andrew now forecasts that the firm will post earnings of $4.58 per share for the year, down from their prior estimate of $4.69. William Blair also issued estimates for Medtronic PLC’s Q1 2018 earnings at $1.26 EPS.

Other equities analysts have also issued research reports about the stock. Cowen and Company set a $94.00 target price on shares of Medtronic PLC and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. Citigroup Inc. began coverage on shares of Medtronic PLC in a research report on Tuesday, August 23rd. They set a “buy” rating and a $102.00 target price for the company. Zacks Investment Research upgraded shares of Medtronic PLC from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research report on Tuesday, August 9th. Credit Suisse Group AG reiterated an “outperform” rating and set a $92.00 target price on shares of Medtronic PLC in a research report on Thursday, August 25th. Finally, Jefferies Group reiterated a “buy” rating and set a $93.00 target price on shares of Medtronic PLC in a research report on Thursday, August 25th. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Medtronic PLC currently has an average rating of “Buy” and an average target price of $88.47.

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

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

A number of hedge funds have recently added to or reduced their stakes in MDT. Proficio Capital Partners LLC boosted its stake in Medtronic PLC by 0.5% in the third quarter. Proficio Capital Partners LLC now owns 1,505 shares of the medical technology company’s stock valued at $130,000 after buying an additional 8 shares during the period. Hudock Capital Group LLC boosted its stake in Medtronic PLC by 0.5% in the second quarter. Hudock Capital Group LLC now owns 2,150 shares of the medical technology company’s stock valued at $186,000 after buying an additional 10 shares during the period. Jackson Grant Investment Advisers Inc. boosted its stake in Medtronic PLC by 0.3% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 3,836 shares of the medical technology company’s stock valued at $331,000 after buying an additional 12 shares during the period. Parkside Financial Bank & Trust boosted its stake in Medtronic PLC by 1.4% in the third quarter. Parkside Financial Bank & Trust now owns 2,105 shares of the medical technology company’s stock valued at $182,000 after buying an additional 30 shares during the period. Finally, Moody National Bank Trust Division boosted its stake in Medtronic PLC by 0.5% in the second quarter. Moody National Bank Trust Division now owns 6,953 shares of the medical technology company’s stock valued at $603,000 after buying an additional 35 shares during the period. Institutional investors and hedge funds own 81.25% of the company’s stock.

In related news, CEO Omar Ishrak sold 61,925 shares of Medtronic PLC stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $84.93, for a total value of $5,259,290.25. Following the sale, the chief executive officer now owns 565,916 shares in the company, valued at $48,063,245.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Richard Kuntz sold 25,199 shares of Medtronic PLC stock in a transaction on Monday, September 26th. The shares were sold at an average price of $86.67, for a total transaction of $2,183,997.33. Following the completion of the sale, the vice president now owns 149,425 shares in the company, valued at approximately $12,950,664.75. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Medtronic PLC Company Profile

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