Medtronic PLC (NYSE:MDT) – Investment analysts at Wedbush cut their FY2018 EPS estimates for Medtronic PLC in a report issued on Wednesday. Wedbush analyst Levy. T now forecasts that the firm will post earnings per share of $5.00 for the year, down from their prior estimate of $5.25.
MDT has been the subject of several other reports. Vetr raised Medtronic PLC from a “buy” rating to a “strong-buy” rating and set a $90.83 price objective for the company in a research report on Tuesday, November 1st. Deutsche Bank AG restated a “buy” rating on shares of Medtronic PLC in a research note on Monday, October 31st. Zacks Investment Research upgraded Medtronic PLC from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Wednesday, October 26th. Oppenheimer Holdings Inc. set a $94.00 target price on Medtronic PLC and gave the company a “buy” rating in a research note on Tuesday, November 22nd. Finally, Credit Suisse Group AG restated an “outperform” rating and issued a $92.00 target price on shares of Medtronic PLC in a research note on Thursday, August 25th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $88.19.
Shares of Medtronic PLC (NYSE:MDT) traded down 1.1566% during trading on Monday, hitting $74.6465. 989,329 shares of the stock traded hands. Medtronic PLC has a 52 week low of $71.03 and a 52 week high of $89.27. The firm’s 50-day moving average price is $81.84 and its 200-day moving average price is $84.68. The company has a market cap of $103.16 billion, a price-to-earnings ratio of 29.0453 and a beta of 1.01.
Medtronic PLC (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.01. Medtronic PLC had a net margin of 14.63% and a return on equity of 12.36%. The company earned $7.35 billion during the quarter, compared to the consensus estimate of $7.46 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year.
In other news, VP Richard Kuntz sold 25,199 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $12,950,664.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James T. Lenehan bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was purchased 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. Insiders own 0.25% of the company’s stock.
A number of large investors have recently made changes to their positions in MDT. The Manufacturers Life Insurance Company purchased a new stake in shares of Medtronic PLC during the third quarter worth about $429,674,000. Emerald Acquisition Ltd. purchased a new stake in shares of Medtronic PLC during the second quarter worth about $363,065,000. Janus Capital Management LLC raised 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 worth $347,508,000 after buying an additional 3,128,250 shares in the last quarter. Standard Life Investments LTD raised 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 worth $209,954,000 after buying an additional 2,367,871 shares in the last quarter. Finally, Tesco Pension Investment Ltd purchased a new stake in shares of Medtronic PLC during the third quarter worth about $198,656,000. 80.95% of the stock is currently owned by institutional investors and hedge funds.
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