$7.55 Billion in Sales Expected for Medtronic PLC (MDT) This Quarter

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Analysts expect Medtronic PLC (NYSE:MDT) to report $7.55 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Medtronic’s earnings, with estimates ranging from $7.45 billion to $7.78 billion. Medtronic reported sales of $7.38 billion during the same quarter last year, which indicates a positive year over year growth rate of 2.3%. The business is scheduled to issue its next quarterly earnings results on Tuesday, August 20th.

According to Zacks, analysts expect that Medtronic will report full year sales of $31.71 billion for the current year, with estimates ranging from $31.53 billion to $32.04 billion. For the next year, analysts forecast that the company will post sales of $33.07 billion, with estimates ranging from $32.59 billion to $33.32 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Medtronic.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.07. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. The business had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.12 billion. During the same period last year, the business earned $1.42 earnings per share. The business’s quarterly revenue was up .0% on a year-over-year basis.

A number of research analysts have commented on MDT shares. Barclays reiterated a “buy” rating and set a $104.00 price target on shares of Medtronic in a research report on Wednesday, February 20th. Oppenheimer set a $104.00 price target on shares of Medtronic and gave the company a “buy” rating in a research report on Wednesday, February 20th. Northland Securities reiterated a “hold” rating and set a $84.00 price target on shares of Medtronic in a research report on Monday, March 18th. Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. Finally, Wells Fargo & Co reduced their price target on shares of Medtronic from $101.00 to $100.00 and set a “market perform” rating on the stock in a research report on Thursday, April 4th. Ten equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $103.73.

NYSE MDT traded up $1.39 on Friday, reaching $93.03. 7,341,171 shares of the company’s stock traded hands, compared to its average volume of 5,899,082. Medtronic has a 12 month low of $81.66 and a 12 month high of $100.15. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.36 and a quick ratio of 1.92. The stock has a market capitalization of $124.77 billion, a P/E ratio of 19.50, a PEG ratio of 2.18 and a beta of 0.78.

Hedge funds have recently made changes to their positions in the stock. Sustainable Insight Capital Management LLC purchased a new position in Medtronic during the fourth quarter valued at $964,000. Actinver Wealth Management Inc. purchased a new position in Medtronic during the fourth quarter valued at $2,101,000. Chesley Taft & Associates LLC lifted its position in Medtronic by 11.7% during the first quarter. Chesley Taft & Associates LLC now owns 10,029 shares of the medical technology company’s stock valued at $913,000 after buying an additional 1,050 shares during the period. Wills Financial Group Inc. lifted its position in Medtronic by 19.3% during the fourth quarter. Wills Financial Group Inc. now owns 18,021 shares of the medical technology company’s stock valued at $1,639,000 after buying an additional 2,921 shares during the period. Finally, Stanley Laman Group Ltd. lifted its position in Medtronic by 2.3% during the fourth quarter. Stanley Laman Group Ltd. now owns 11,702 shares of the medical technology company’s stock valued at $1,064,000 after buying an additional 266 shares during the period. 81.23% of the stock is owned by institutional investors.

Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Earnings History and Estimates for Medtronic (NYSE:MDT)

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