Medtronic PLC (NYSE:MDT) – Research analysts at William Blair increased their Q4 2018 EPS estimates for shares of Medtronic PLC in a research note issued on Monday. William Blair analyst K. Krum now anticipates that the medical technology company will earn $1.40 per share for the quarter, up from their previous estimate of $1.39. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Medtronic PLC’s Q1 2019 earnings at $1.16 EPS.
Medtronic PLC (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 earnings per share. COPYRIGHT VIOLATION NOTICE: This piece of content was first published by Markets Daily and is the property of of Markets Daily. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this piece of content can be viewed at https://www.themarketsdaily.com/2017/10/11/q4-2018-eps-estimates-for-medtronic-plc-increased-by-william-blair-mdt.html.
Other analysts have also recently issued research reports about the stock. Jefferies Group LLC restated a “buy” rating and issued a $103.00 target price on shares of Medtronic PLC in a research note on Thursday, August 3rd. Deutsche Bank AG set a $96.00 target price on shares of Medtronic PLC and gave the stock a “buy” rating in a research note on Monday, July 31st. BidaskClub cut shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Medtronic PLC in a research note on Tuesday, July 18th. Finally, Cowen and Company set a $95.00 target price on shares of Medtronic PLC and gave the stock a “buy” rating in a research note on Tuesday, August 22nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $87.79.
Shares of Medtronic PLC (NYSE:MDT) traded up 1.46% on Wednesday, hitting $78.42. 3,221,049 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $79.78 and its 200 day moving average price is $83.30. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The stock has a market cap of $106.23 billion, a price-to-earnings ratio of 26.40 and a beta of 1.01.
Medtronic PLC announced that its board has initiated a share repurchase plan on Friday, June 23rd that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical technology company to repurchase up to 49% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.38%. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.
In other news, CEO Omar Ishrak sold 140,407 shares of Medtronic PLC stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the sale, the chief executive officer now directly owns 668,503 shares in the company, valued at $54,569,899.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $88.57, for a total transaction of $1,062,840.00. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of MDT. Parkside Financial Bank & Trust grew its holdings in Medtronic PLC by 22.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after purchasing an additional 210 shares during the period. BDO Wealth Advisors LLC purchased a new stake in Medtronic PLC in the second quarter valued at approximately $103,000. Motco grew its holdings in Medtronic PLC by 8.7% in the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after purchasing an additional 99 shares during the period. Quadrant Capital Group LLC grew its holdings in Medtronic PLC by 21.5% in the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after purchasing an additional 290 shares during the period. Finally, Israel Discount Bank of New York purchased a new stake in Medtronic PLC in the first quarter valued at approximately $117,000. Institutional investors and hedge funds own 80.63% of the company’s stock.
Medtronic PLC 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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