Todays Report: Today, Medtronic PLC (MDT) Expected to Earn Q3 2017 Earnings of $1.11 Per Share

Today, Medtronic PLC (MDT) Expected to Earn Q3 2017 Earnings of $1.11 Per Share

Medtronic PLC (NYSE:MDT) – SunTrust Banks cut their Q3 2017 earnings per share (EPS) estimates for shares of Medtronic PLC in a report issued on Tuesday. SunTrust Banks analyst B. Nudell now forecasts that the brokerage will post earnings of $1.11 per share for the quarter, down from their prior estimate of $1.14. SunTrust Banks also issued estimates for Medtronic PLC’s Q4 2017 earnings at $1.31 EPS, FY2017 earnings at $4.57 EPS, Q1 2018 earnings at $1.13 EPS, Q3 2018 earnings at $1.25 EPS, Q4 2018 earnings at $1.45 EPS, FY2018 earnings at $5.07 EPS, FY2019 earnings at $5.54 EPS and FY2020 earnings at $6.06 EPS.

A number of other equities research analysts also recently issued reports on MDT. Oppenheimer Holdings Inc. reduced their price target on shares of Medtronic PLC from $94.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday. Deutsche Bank AG reaffirmed a “buy” rating on shares of Medtronic PLC in a research note on Monday, October 31st. Jefferies Group cut their target price on shares of Medtronic PLC from $100.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday. BMO Capital Markets cut their target price on shares of Medtronic PLC from $94.00 to $87.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Barclays PLC cut their target price on shares of Medtronic PLC from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Medtronic PLC currently has an average rating of “Buy” and an average price target of $88.47.

Shares of Medtronic PLC (NYSE:MDT) opened at 75.78 on Thursday. The firm has a market capitalization of $104.72 billion, a P/E ratio of 29.49 and a beta of 1.01. The firm has a 50-day moving average of $82.26 and a 200 day moving average of $84.71. Medtronic PLC has a 52 week low of $71.03 and a 52 week high of $89.27.

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

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

Several institutional investors have recently made changes to their positions in MDT. Fayez Sarofim & Co. increased its position in shares of Medtronic PLC by 0.9% in the third quarter. Fayez Sarofim & Co. now owns 69,242 shares of the medical technology company’s stock worth $5,982,000 after buying an additional 600 shares in the last quarter. ETRADE Capital Management LLC increased its position in Medtronic PLC by 1.5% in the third quarter. ETRADE Capital Management LLC now owns 33,277 shares of the medical technology company’s stock valued at $2,875,000 after buying an additional 492 shares during the period. D.A. Davidson & CO. increased its position in Medtronic PLC by 86.9% in the third quarter. D.A. Davidson & CO. now owns 72,978 shares of the medical technology company’s stock valued at $6,301,000 after buying an additional 33,929 shares during the period. Whalerock Point Partners LLC acquired a new position in Medtronic PLC during the third quarter valued at $263,000. Finally, Piedmont Investment Advisors LLC acquired a new position in Medtronic PLC during the third quarter valued at $24,964,000. Institutional investors and hedge funds own 81.25% of the company’s stock.

Medtronic PLC Company Profile

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