Medtronic plc (NYSE: MDT) is expected to post quarterly sales of $ 7.98 billion
Stock analysts expect Medtronic plc (NYSE: MDT) to report $ 7.98 billion in revenue for the current quarter, Zacks reports. Nine analysts have released Medtronic earnings estimates, with the lowest sales estimate at $ 7.97 billion and the highest estimate at $ 8.01 billion. Medtronic reported sales of $ 7.65 billion in the same quarter last year, which would suggest a positive growth rate of 4.3% year-over-year. The company is expected to announce its next quarterly earnings report on Tuesday, November 23.
According to Zacks, analysts expect Medtronic to report annual sales of $ 33.00 billion for the current fiscal year, with estimates ranging from $ 32.95 billion to $ 33.16 billion. For next year, analysts predict the company will post sales of $ 34.80 billion, with estimates ranging from $ 34.40 billion to $ 35.24 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts who cover Medtronic.
Medtronic (NYSE: MDT) last reported its quarterly results on Monday, August 23. The medical technology company reported earnings per share (EPS) of $ 1.41 for the quarter, beating the consensus estimate of $ 1.32 by $ 0.09. The company posted revenue of $ 7.99 billion in the quarter, compared to $ 7.88 billion expected by analysts. Medtronic recorded a return on equity of 13.85% and a net margin of 12.29%. The company’s revenue for the quarter increased 22.7% from the same quarter last year. During the same period last year, the company posted earnings per share of $ 0.62.
Several analysts recently commented on the company. BTIG Research downgraded Medtronic from a “buy” rating to a “neutral” rating in a report released on Monday, August 9. Citigroup reaffirmed a “priority list” rating and set a price target of $ 153.00 (vs. $ 143.00) for Medtronic shares in a report released on Wednesday, August 25. raised its target price on Medtronic from $ 133.00 to $ 143.00 and gave the stock a “buy” rating in a report released on Friday, May 28. Credit Suisse Group raised its price target on Medtronic from $ 137.00 to $ 146.00 and gave the stock an “outperformance” rating in a report released on Wednesday, August 25. Finally, Raymond James raised his target price on Medtronic from $ 135.00 to $ 142.00 and gave the stock an “outperformance” rating in a report released on Wednesday, August 25. Five analysts assigned a conservation rating to the stock, seventeen assigned a buy rating and one assigned a high buy rating to the stock. Based on MarketBeat data, the stock currently has a consensus rating of “Buy” and an average price target of $ 142.91.
Meanwhile, CEO Geoffrey Martha sold 11,500 Medtronic shares in a transaction that took place on Monday, June 28. The stock was sold at an average price of $ 125.29, for a total trade of $ 1,440,835.00. The sale was disclosed in a file with the SEC, accessible through this hyperlink. Additionally, Executive Vice President Bradley E. Lerman sold 50,775 shares of Medtronic in a trade on Tuesday, August 31. The shares were sold for an average price of $ 134.17, for a total value of $ 6,812,481.75. Disclosure of this sale can be found here. During the last quarter, insiders sold 106,995 shares of the company valued at $ 14,215,774. 0.47% of the shares are currently held by insiders of the company.
Several hedge funds have recently bought and sold stocks. Centaurus Financial Inc. increased its stake in Medtronic by 7.8% during the 1st quarter. Centaurus Financial Inc. now owns 1,462 shares of the medical technology company valued at $ 173,000 after purchasing 106 additional shares in the last quarter. Chartwell Investment Partners LLC increased its stake in Medtronic by 5.2% during the 1st quarter. Chartwell Investment Partners LLC now owns 49,288 shares of the medical technology company valued at $ 5,822,000 after purchasing an additional 2,458 shares in the last quarter. Great Lakes Advisors LLC increased its stake in Medtronic by 19.5% during the 1st quarter. Great Lakes Advisors LLC now owns 26,468 shares of the medical technology company valued at $ 3,126,000 after purchasing an additional 4,312 shares in the last quarter. Victory Capital Management Inc. increased its stake in Medtronic by 32.0% during the 1st quarter. Victory Capital Management Inc. now owns 495,241 shares of the medical technology company valued at $ 58,503,000 after purchasing an additional 120,028 shares in the last quarter. Finally, Better Money Decisions LLC acquired a new position in Medtronic during the 1st quarter valued at $ 37,000. Hedge funds and other institutional investors hold 79.59% of the company’s shares.
Medtronic stock opened at $ 131.14 on Friday. The company has a market cap of $ 176.24 billion, a price / earnings ratio of 45.85, a price / earnings-growth ratio of 2.69, and a beta of 0.80. Medtronic has a 52-week low of $ 98.94 and a 52-week high of $ 135.89. The company’s 50-day mobile average price is $ 129.73 and its 200-day mobile average price is $ 125.51. The company has a quick ratio of 2.34, a current ratio of 2.89, and a debt ratio of 0.50.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 15. Shareholders of record on Friday, September 24 will receive a dividend of $ 0.63. This represents a dividend of $ 2.52 on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, September 23.
Medtronic Plc is a medical technology company engaged in the development, manufacture, distribution and sale of device-based medical therapies and services. It operates through the following segments: Cardiac and vascular group; Minimally Invasive Technologies Group; Group of restorative therapies; and Diabetes Group.
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