Today, Medtronic PLC (MDT) to Post Q3 2017 Earnings of $1.11 Per Share, Wedbush Forecasts

Today, Medtronic PLC (MDT) to Post Q3 2017 Earnings of $1.11 Per Share, Wedbush Forecasts
Medtronic PLC (NYSE:MDT) – Analysts at Wedbush dropped their Q3 2017 earnings per share (EPS) estimates for Medtronic PLC in a report issued on Wednesday. Wedbush analyst Levy. T now anticipates that the brokerage will post earnings of $1.11 per share for the quarter, down from their previous 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.

Medtronic PLC (NYSE:MDT) last released its earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.01. Medtronic PLC had a return on equity of 12.36% and a net margin of 14.63%. The business earned $7.35 billion during the quarter, compared to the consensus estimate of $7.46 billion. During the same period last year, the company earned $1.03 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year.

A number of other equities analysts have also issued reports on the company. Vetr lowered Medtronic PLC from a “strong-buy” rating to a “buy” rating and set a $91.28 price target for the company. in a research note on Monday, November 21st. Zacks Investment Research lowered 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 price target on shares of Medtronic PLC in a research note on Thursday, August 25th. Citigroup Inc. started coverage on Medtronic PLC in a research note on Tuesday, August 23rd. They set a “buy” rating and a $102.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price target (down from $95.00) on shares of Medtronic PLC in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Medtronic PLC has an average rating of “Buy” and an average price target of $88.47.

Shares of Medtronic PLC (NYSE:MDT) opened at 75.52 on Thursday. Medtronic PLC has a 52-week low of $71.03 and a 52-week high of $89.27. The stock’s 50 day moving average price is $81.84 and its 200 day moving average price is $84.68. The company has a market capitalization of $104.36 billion, a P/E ratio of 29.39 and a beta of 1.01.

A number of institutional investors have recently bought and sold shares of the company. Fayez Sarofim & Co. increased its position in Medtronic PLC by 0.9% in the third quarter. Fayez Sarofim & Co. now owns 69,242 shares of the medical technology company’s stock valued at $5,982,000 after buying an additional 600 shares during 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 last quarter. 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 last quarter. Whalerock Point Partners LLC acquired a new position in Medtronic PLC during the third quarter valued at approximately $263,000. Finally, Piedmont Investment Advisors LLC acquired a new position in Medtronic PLC during the third quarter valued at approximately $24,964,000. 81.25% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Omar Ishrak sold 61,925 shares of the company’s 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 transaction, the chief executive officer now directly owns 565,916 shares of the company’s stock, valued at $48,063,245.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James T. Lenehan bought 2,000 shares of the stock in a transaction on Wednesday, November 23rd. The shares were acquired at an average cost of $73.27 per share, for a total transaction of $146,540.00. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by insiders.

Medtronic PLC Company Profile

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