Medtronic plc. (NYSE:MDT) – Research analysts at Leerink Swann upped their Q1 2019 EPS estimates for shares of Medtronic in a research report issued on Wednesday. Leerink Swann analyst D. Antalffy now expects that the medical technology company will post earnings per share of $1.12 for the quarter, up from their previous estimate of $1.11. Leerink Swann also issued estimates for Medtronic’s Q2 2019 earnings at $1.18 EPS, Q3 2019 earnings at $1.32 EPS and Q4 2019 earnings at $1.53 EPS.
A number of other equities research analysts have also recently commented on MDT. BMO Capital Markets increased their target price on shares of Medtronic to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, December 12th. Argus upgraded shares of Medtronic from a “hold” rating to a “buy” rating and increased their target price 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. Oppenheimer reiterated a “buy” rating on shares of Medtronic in a research report on Thursday, December 21st. Bank of America upgraded shares of Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Finally, Evercore ISI started coverage on shares of Medtronic in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 target price for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company. Medtronic has a consensus rating of “Buy” and an average price target of $91.50.
Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 20th. The medical technology company reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.01. The business had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.20 billion. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 23rd will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Thursday, March 22nd. Medtronic’s dividend payout ratio is currently 90.64%.
In related news, Director James T. Lenehan sold 1,306 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $83.56, for a total value of $109,129.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the completion of the sale, the vice president now directly owns 149,761 shares of the company’s stock, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. Insiders sold 130,469 shares of company stock valued at $11,016,054 in the last three months. 0.31% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Prudential Financial Inc. boosted its stake in Medtronic by 1.6% during the third quarter. Prudential Financial Inc. now owns 3,308,500 shares of the medical technology company’s stock worth $257,302,000 after buying an additional 53,474 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Medtronic by 10.7% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 475,699 shares of the medical technology company’s stock worth $36,995,000 after buying an additional 45,826 shares during the period. Koch Industries Inc. boosted its stake in Medtronic by 27,564.6% during the second quarter. Koch Industries Inc. now owns 1,403,151 shares of the medical technology company’s stock worth $1,388,000 after buying an additional 1,398,079 shares during the period. Boston Research & Management Inc. boosted its stake in Medtronic by 4.5% during the third quarter. Boston Research & Management Inc. now owns 39,061 shares of the medical technology company’s stock worth $3,037,000 after buying an additional 1,676 shares during the period. Finally, Toronto Dominion Bank boosted its stake in Medtronic by 25.5% during the second quarter. Toronto Dominion Bank now owns 463,775 shares of the medical technology company’s stock worth $41,152,000 after buying an additional 94,105 shares during the period. 81.19% of the stock is owned by institutional investors.
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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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