Medtronic (NYSE:MDT) Announces Earnings Results

Medtronic (NYSE:MDT) released its quarterly earnings results on Thursday. The medical technology company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.70), MarketWatch Earnings reports. Medtronic had a net margin of 16.56% and a return on equity of 12.17%. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same period in the previous year, the company earned $1.54 EPS. The company’s revenue for the quarter was down 26.4% on a year-over-year basis.

Shares of MDT opened at $94.72 on Friday. The business’s fifty day simple moving average is $96.70 and its two-hundred day simple moving average is $105.81. The company has a current ratio of 2.13, a quick ratio of 2.28 and a debt-to-equity ratio of 0.43. Medtronic has a 12 month low of $72.13 and a 12 month high of $122.15. The company has a market cap of $127.87 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 2.57 and a beta of 0.69.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.45%. This is an increase from Medtronic’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, June 25th. Medtronic’s dividend payout ratio (DPR) is currently 47.06%.

Several research analysts have recently issued reports on MDT shares. Cfra raised Medtronic from a “buy” rating to a “strong-buy” rating and decreased their target price for the stock from $127.00 to $121.00 in a research report on Thursday. Bank of America reissued a “buy” rating and issued a $130.00 target price on shares of Medtronic in a research report on Friday. BTIG Research decreased their target price on Medtronic from $124.00 to $102.00 and set a “buy” rating for the company in a research report on Monday, March 30th. JPMorgan Chase & Co. decreased their target price on Medtronic from $128.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Finally, Oppenheimer decreased their target price on Medtronic from $131.00 to $112.00 and set an “outperform” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Medtronic presently has a consensus rating of “Buy” and an average target price of $115.31.

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 for Medtronic (NYSE:MDT)

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