Medtronic plc. (NYSE:MDT) – Analysts at Oppenheimer dropped their FY2018 EPS estimates for shares of Medtronic in a report issued on Wednesday. Oppenheimer analyst S. Lichtman now anticipates that the medical technology company will post earnings of $4.74 per share for the year, down from their previous estimate of $4.75. Oppenheimer has a “Buy” rating and a $94.00 price objective on the stock.
Several other research analysts have also recently weighed in on the company. SunTrust Banks set a $92.00 price target on Medtronic and gave the company a “buy” rating in a research report on Sunday, November 19th. Needham & Company LLC reiterated a “buy” rating and set a $94.00 price target on shares of Medtronic in a research report on Thursday, November 9th. Cowen reiterated a “buy” rating and set a $95.00 price target on shares of Medtronic in a research report on Friday, November 3rd. Jefferies Group reiterated a “buy” rating and set a $99.00 price target on shares of Medtronic in a research report on Thursday, November 23rd. Finally, Argus upgraded Medtronic from a “hold” rating to a “buy” rating and lifted their price target for the company from $81.27 to $95.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $90.85.
Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 20th. The medical technology company reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.01. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. The firm had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year.
In other news, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the completion of the sale, the vice president now directly owns 149,761 shares in the company, valued at $12,910,895.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Hooman Hakami sold 26,158 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $85.00, for a total value of $2,223,430.00. The disclosure for this sale can be found here. Insiders sold 120,684 shares of company stock valued at $10,318,276 over the last 90 days. Company insiders own 0.31% of the company’s stock.
Several institutional investors have recently bought and sold shares of MDT. We Are One Seven LLC purchased a new stake in shares of Medtronic during the fourth quarter worth approximately $104,000. Quadrant Capital Group LLC increased its position in shares of Medtronic by 21.5% during the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after purchasing an additional 290 shares in the last quarter. Blue Chip Partners Inc. purchased a new stake in shares of Medtronic during the third quarter worth approximately $118,000. BB&T Investment Services Inc. increased its position in shares of Medtronic by 147.6% during the fourth quarter. BB&T Investment Services Inc. now owns 1,518 shares of the medical technology company’s stock worth $126,000 after purchasing an additional 905 shares in the last quarter. Finally, Barrett Asset Management LLC increased its position in shares of Medtronic by 856.0% during the fourth quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock worth $147,000 after purchasing an additional 1,635 shares in the last quarter. Institutional investors and hedge funds own 79.83% of the company’s stock.
Medtronic Company Profile
Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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